Individual Savings Accounts (ISAs) were introduced by the UK Government in April 1999 to promote saving and investment amongst individuals in the UK. Rules of the scheme have changed several times since they started but currently allow UK citizens 16 years plus to save up to £20,000 per annum free of tax.
ISAs provide customers with a tax efficient way of investing. They are available to UK residents and certain other qualifying individuals, aged 16 or over, in the case of a Cash ISA, and 18 or over, for other ISAs. You can open/subscribe to a Cash ISA, Stocks and Shares ISA, Lifetime ISA, Help to Buy ISA and, if eligible, a Junior ISA in the same tax year, subject to the annual subscription limits per person, but you cannot subscribe to more than one of each in any one tax year. i.e. you could have a Stocks and Shares ISA with Shareview Dealing, and you could choose another provider for a Cash ISA, up to the total allowed for the year in which you are investing. You cannot subscribe to more than one Stocks and Shares ISA or more than one Cash ISA in the same tax year.
NOTE: Shareview Dealing offers a Stocks and Shares ISA only.
- Login to your account using the red box at the top right of any page on the Shareview Dealing website.
- Select Login to ISA/Investment account on the right hand side.
- Enter your user name and PIN.
If you have forgotten your login details or have any problems logging in, please contact the Customer Experience Centre:
Phone: 0345 300 0430
Lines are open 08:00 – 18:00 UK time Monday to Friday
To open a Stocks and Shares ISA you must:
- Be 18 years or over.
- Be UK resident for tax purposes or a Crown employee or the spouse/civil partner of a Crown employee.
You cannot hold an ISA jointly with, or on behalf of, anyone else.
Once logged in to your account, visit Cash Statement and the amount you have contributed this year is displayed, with the unused ISA allowance (subscription remaining) underneath.
As we offer a Flexible ISA, money taken out of the ISA as cash can be replaced in the same tax year without counting towards the ISA subscription in that tax year.
Stocks and Shares ISAs are tax-efficient products as there is no Capital Gains Tax to pay on any profits from the account. Tax credits can no longer be reclaimed on equity dividends but interest earned on corporate bonds and gilts remains tax free. Higher rate taxpayers benefit even further as they do not have to pay any higher rate tax on share dividends.
You don't have to declare income and capital gains derived from ISA investments on your tax return and you can take your money out at any time without losing tax relief.
SAYE customers. At maturity, shares moved into our ISA within 90 days of them being available to you are exempt from CGT upon their eventual disposal. Because this is a Flexible ISA, money can be taken out as cash from an existing ISA and the "hole" left behind can be filled with shares to the same value from the SAYE within the 90 day rule and this does not affect the amount you can subscribe in that tax year. New ISA customers can subscribe, then take money out as cash to the Investment Account and replace the money with further shares from the SAYE maturity without it counting towards the subscription, provided it is all done within the 90 days of the SAYE maturity and any money taken out is replaced in the same tax year.
The extent and value of any ISA tax advantages or benefits will vary according to the individual's circumstances. The levels and bases of taxation may also change.
Depositing money into your ISA is as easy as one, two, three:
- 1. Login to your Shareview Dealing account
- 2. From your dashboard, select ISA from the drop down menu on the left then select 'payments'
- 3. Use your debit card to top up instantly or easily set up a bank transfer from your nominated bank account
We offer a Flexible Stocks and Shares ISA.
Our Stocks and Shares ISA allows you to hold or invest in all ISA eligible shares. With the flexibility of withdrawal options with no penalties if repaid to the account before the end of theat tax year.
SAYE customers. At maturity, shares moved into our ISA within 90 days of them being available to you are exempt from CGT upon their eventual disposal. Because this is a Flexible ISA, money can be taken out as cash from an existing ISA and the "hole" left behind can be filled with shares to the same value from the SAYE within the 90 day rule and this does not affect the amount you can subscribe in that tax year. New ISA customers can subscribe, then take money out as cash to the Investment Account and replace the money with further shares from the SAYE maturity without it counting towards the subscription, provided it is all done within the 90 days of the SAYE maturity and any money taken out is replaced in the same tax year.
There are a wide range of investment types, including:
- UK and International Shares
- Bonds and Gilts
- Investment Trusts.
- Exchange Traded Funds (and Exchange Traded Commodities)
For the 2020/21 tax year, the overall ISA subscription limit is £20,000, less any contributions to any other permitted ISAs. Any additional amount over the subscription limit will not be accepted.
The ISA custody fee is payable half yearly, in advance, in April and October.
As a default, we take all fees in the following order of priority, to ensure any tax-advantaged accounts are not affected first:
- Equiniti Investment Account – if the monies are available to cover the fee in full
- Direct Debit – collected from the nominated bank account if an active DD mandate is held
- ISA – failing options 1 & 2, the fees are recovered from the ISA balance.
To update your preferences, so that all fees are automatically collected by Direct Debit, please contact our Customer Experience Centre by secure message or call 0345 300 0430.
The quickest way to open an ISA is by applying online, here. We will usually be able to open your account immediately. Subsequently, you can use a debit card to fund the account and trade right away.
Alternatively, you can fill out an Equiniti ISA Application Form here, or you can call our Customer Services on 0345 300 0430.
Although ISA rules prevent you from transferring shares from paper certificates directly in to a Stocks and Shares ISA, with our ISA you get a free Investment Account. This is a nominee dealing account into which you can transfer your certificated shares and you can use this account to help put shares into your ISA.
Once your shares are transferred in to an Investment Account you can sell them, transfer the money into your ISA and repurchase the shares within your ISA account, giving you the tax benefits. This can be done easily online or by calling the Customer Experience Centre on 0345 300 0430. You will, however, be liable for any changes in share price which happens during this process and applicable trading fees will apply. The sale of shares for the purpose may give rise to a Capital Gains Tax (CGT) liability.
To transfer your certificated shares into your Investment Account please complete a CREST Transfer form and send it with your certificates to: Equiniti, PO Box 4605, Worthing, BN99 6QY.
Your shares will then be held in electronic form on your behalf in the Investment Account. You can then follow the steps above to repurchase the shares and hold them in your Shareview Dealing ISA.
If you’re posting any valuable documents, such as share certificates, you may want to send these by registered mail.
Your ISA will end on the date of your death. There will be no tax to pay on income or capital gains up to that date, but your personal representatives will have to account for tax on any income or gains arising after your death. Equiniti will either, sell the investments and pay the proceeds to your personal representatives (or a beneficiary of your estate), or transfer the investments directly into their hands, following the completion of the bereavement process.
You can only subscribe to an ISA if you are resident in the UK for tax purposes (ask your Tax Office if you are in any doubt about this).
Crown employees or the spouse/civil partner of a Crown employee, who work overseas and paid by the government, are eligible to subscribe to an ISA.
If you open an ISA in the UK and then go abroad, you cannot continue putting money into the ISA (unless you are a Crown employee working overseas) after you cease to be UK resident. However, you can keep your ISA and you will still get UK tax relief on investments held in the ISA. When you return and become UK resident again, you can start putting money in again (subject to the normal annual limits).
If, by mistake, you put too much money into your ISAs, the excess payments are invalid, and you are not entitled to any tax relief on income from investments purchased with the excess payments.
You should not try to correct this mistake yourself. Where appropriate, HMRC will contact you after the end of the year and tell you what action is necessary.
You can transfer any share you get from:
- (1) an HMRC approved SAYE share option scheme run by your employer (that is, a savings related share option scheme)
or
- (2) a Share Incentive Plan
into a Shareview Dealing ISA without having to pay Capital Gains Tax on their eventual disposal.
This means you can transfer shares at their current value (not their purchase price) up to annual ISA Subscription limit (assuming that you make no other subscriptions to ISAs, in that tax year).
You must transfer the shares within 90 days from the day they cease to be subject to the Plan, or (for approved SAYE share option schemes) 90 days of the exercise of option date. Your employer should be able to tell you more.
Additionally, as this is a flexible Stocks & Shares ISA it means:
- If you already hold stock/cash you can move an amount out of your existing ISA and replace it in the same tax year by the same amount without counting towards your ISA subscription. It is therefore within the tax rules to “make room” in your ISA for shares exceeding the £20,000 subscription limit in the 2020/2021 tax year equal to the amount you are replacing, plus the subscription in the year if not already made.
- If you open a new ISA, you can move the shares into the ISA as shares up to the maximum £20,000 subscription (less any other ISA/LISA subscriptions). Then it is possible to sell down to cash an amount up to the full ISA subscription in the tax year, move the cash outside the ISA and replace the “hole” left behind with SAYE shares. Eg SAYE £40,000 of stock. Open the ISA with £20,000, then these are sold to cash and moved out, the next £20,000 is moved into the ISA as stock. A total of £40,000 is now free of CGT from the SAYE.
- All such shares, if moved into the ISA within 90 days from being available in the SAYE, would be free of Capital Gains Tax. Any money withdrawn from a flexible ISA can be replaced ion the same tax year without counting towards the annual ISA subscription. If in any doubt about suitability to your personal circumstances you should seek professional financial advice.
We allow the following investments to be held in a Shareview Dealing ISA:
- Shares and corporate bonds issued by companies officially listed (or admitted to trading) on a recognised stock exchange anywhere in the world
- Gilt edged securities ('gilts'), issued by the UK government, similar securities issued by governments of other countries in the European Economic Area and 'strips' of all these securities
- Any shares which have been transferred from an HMRC approved SAYE share option scheme or Share Incentive Plan (see Can I put shares from my employee share scheme into my ISA?)
- Uninvested cash
- Exchange Traded Funds (ETFs)
- Investment Trusts