The value of your investment can go down as well as up and you may get back less than you paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK also have an impact on tax treatment.
An ISA – or Individual Savings Account – is a tax efficient way of investing. This is because you won’t pay tax on any interest or returns you make. You can use a Stocks & Shares ISA to invest in different types of funds and give your money a chance to potentially grow. There is a limit to how much you can save into an ISA each tax year, which is called an ISA allowance.
Anyone who is aged 18 or over, is a resident in the UK, and holds a UK personal bank account.
You can find out all about our investment options and the funds available as part of setting up your ISA. You can choose from our Easy or DIY options and then see full details of what you’re investing in before you buy.
You can take money out of your ISA at any time. However, occasionally some funds may place restrictions on withdrawals which may mean it takes time for you to receive your money. You can also make regular withdrawals - monthly, quarterly, half-yearly and yearly. If you take money out of your ISA the maximum you can put in remains at £20,000 for the 2021/2022 tax year.
No. There is no fixed time limit for the Stocks & Shares ISA. You should view your ISA as a medium to long-term investment, which means it should usually be held for at least five years. You are able to withdraw money at any time. However, occasionally some funds may place restrictions on withdrawals which may mean it takes time for you receiving your money.
Yes you can, as long as you haven’t reached the annual payment limit.
It’s the limit on how much money you can save and invest through Individual Savings Accounts (ISAs) in a single tax year. The ISA allowance for the 2021/2022 tax year is £20,000.
No, Individual Savings Accounts (ISAs) do not have to be included in your tax return to HMRC (HM Revenue & Customs).
No, you can instruct us to transfer an existing Stocks & Shares ISA and/or a Cash ISA to a Stocks & Shares ISA with us without any loss of tax status. We can’t currently accept a transfer from either an Innovative Finance ISA or Lifetime ISA.
Whilst we don’t charge you for transferring an ISA to us, it is important to check with your other ISA provider if any transfer charges apply.
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