We’re committed to ensuring we can continue to serve our customers regardless of the future relationship between the UK and the EU and are working closely with UK Government and Regulators to develop plans to mitigate potential Brexit risks. We will keep you up-to-date as more information becomes available and the external political environment becomes clearer.
|About your account|
|Will there be a change to how I access my share dealing account?||There is no change to how you access your existing accounts and services.|
|Will I still have access to the same products?||Yes, there are no plans to change the products that we offer.|
|Will I be able to open a new share dealing account if I live in Europe?||No, there will be no change to our current requirement that you must be resident in the United Kingdom to open an account.|
|Will I still be able to withdraw money from my account?||Your account will continue to run as it does today. You can sell your investments and ask to withdraw your money at any time (once the trade has settled). Before making any decisions, you should consider the tax implications. If you’re unsure, you should speak with a financial adviser.|
|I am a UK National living in Europe, will there be any changes to how I use my share dealing account?||
There will be no impact on the way that you are able to operate your account with us whilst you are resident in the EU.
As you are currently resident outside the UK, you are not able to open a new account with us, buy investments or pay further money into your existing account, although you can use our service to view information, sell investments held in your account or to close your account.
|I am an EU national continuing to live in the UK, will this change how I can use my share dealing account?||No, our understanding is that there will be no impact on your ability to fully access your existing products and services or to open a new account with us.|
|Will my personal data still be secure when we are no longer part of the EU?||You continue to be protected through current legislation, and our internal policies. Your data will continue to be held in the most secure way.|
|Will I still be able to buy International shares?||You will still be able to trade shares through our service on stock exchanges in New York, Paris, Frankfurt, Milan, Amsterdam and Brussels as currently.|
|About your investments|
|Are my investments protected?||Your eligible investments continue to be protected up to the value of £85,000 by the Financial Services Compensation Scheme (FSCS). The Financial Conduct Authority (FCA) will also continue to be our regulator. The value of investments, and the income from them, may fall as well as rise and cannot be guaranteed.|
|Will the value of my investments be impacted as a result of Brexit?
What is the possible impact of No Deal?
The value of assets you’re invested in will depend on a range of factors, including: the economic, political, tax and social environment; interest and exchange rates; market sentiment; and geographical factors,. Unfortunately, it’s not possible to know how the value of investments might be impacted by Brexit, either in the short term or over the longer term.
We are unable to offer advice, If you’re not sure about the impact of Brexit on your investments please speak to a financial adviser. The value of investments, and the income from them, may fall as well as rise and cannot be guaranteed.
|I have a Share Dealing Account / Stocks & Shares ISA / ShareBuilder – Can I move my investments out of the market into Cash before Brexit?||
You can sell some or all of your investments at any time (subject to market opening hours) and hold cash in your account. Before making any decision whether to move some or all of the value of your investments into cash, it is important to understand the consequences and consider tax implications.
We are unable to offer advice; If you’re not sure about where you should invest your money, please speak to a financial or tax adviser.
|I have an Investment Account / Investment ISA – Can I sell my Funds and hold my money as cash?||
You can switch between any of the available funds in your account, but if you choose to sell some or all of your funds, you are not able to hold the proceeds as cash in your account and the money would be paid out into your linked bank account.
If you have an Investment ISA and want to move some or all of the value of your investments into cash without losing your ISA tax shelter then you can transfer to a Cash ISA. Please contact your Cash ISA provider to arrange the transfer.
We are unable to offer advice, If you’re not sure about where you should invest your money, please speak to a financial or tax adviser.
|About your SIPP|
|Will I still receive tax relief on payments into my plan?||If you’re eligible to receive UK tax relief on your payments, we’ll continue to be able to claim basic rate relief of your behalf. You’ll need to claim any additional tax relief via your self-assessment tax return, as you do today.|
|Will I still be able to choose how I want to take my pension benefits at retirement?||There are no plans to make any changes at this time. If in future we need to make any changes, we’ll contact you well in advance to explain your options.|
|What should I do with the money in my SIPP?||
You can normally only take money out of your pension from the minimum pension age (currently age 55). You can choose to transfer to another plan at any time.
Before making any decisions to take benefits or to transfer, it’s important to understand the consequences, and to be sure it’s the right decision for you. We are unable to offer advice; If you’re unsure, you should speak to a financial adviser.
|Will I be able to access my pension benefits if I am living overseas after Brexit?||
Yes. Your pension benefits will remain invested with us until you choose to take them, or you reach age 75. There are no plans to make any changes at this time. If in future we need to make any changes, we’ll contact you well in advance to explain your options.
Alternatively, you may be able to transfer the value of your pension benefits to another pension arrangement. This could include a pension arrangement established in your country of residence. We are unable to offer advice; If you’re unsure, you should speak to a financial adviser.