Understanding your ISA.

Please remember that the value of all investments can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice. Tax treatment depends on personal circumstances and may be subject to change.

To help you understand and make the most of your ISA, we’ll answer your most popular questions.

What would you like to know more about?

Tax year information and subscription limits

  • What is the difference between an Investment ISA and a Stocks and Shares ISA

With the Investment ISA you can only invest in 3 ready-made funds whereas the Stocks and Shares ISA allows you to invest in a wider range of investments.

Both ISAs have a £20,000 ISA allowance and you can only invest in one of these in the same tax year.

  • What is the subscription limit for an ISA for this tax year?

You can watch our ISA video, or read the below

Each year the Government allows you to invest in a tax-efficient product called an ISA (an Individual Savings Account). The maximum amount you can invest in the current tax year is £20,000. You can choose to invest your full allowance into a Cash ISA, a Stocks and Shares ISA (which includes the Investment ISA), or an Innovative Finance ISA or any combination of the three.

Alternatively you can split your allowance by investing up to £4,000 in a Lifetime ISA and the remaining allowance between any combination of the other three types of ISA, as long as you don’t exceed £20,000 in total across your ISAs.

For example, if you invest £10,000 into your Stocks and Shares ISA (or Investment ISA for ready-made investments), you must save no more than £4,000 in your Lifetime ISA and £6,000 within a cash ISA and/or an innovative finance ISA.

  • What is an ISA declaration and why do I need to complete it?

An ISA declaration is required by HMRC, this is to ensure that when you apply for an ISA you are aware of the current ISA rules and regulations. This is also required if no subscription has been made to the ISA in the previous tax year.

  • When does the tax year start and end?

The tax year runs from 6th April to 5th April every year. On 6th April you will be allocated the new tax year's ISA subscription allowance.

  • Do I need to open an ISA every year?

If you already have an ISA, you do not need to open a new account. All you need to do is fund your ISA at any point in the existing, or new tax year to subscribe. You can only subscribe into one Stocks and Shares ISA or Investment ISA for the tax year.

Moving stock or money into an ISA

  • Moving stock from your Halifax Share Dealing Account into a Halifax Stocks and Shares ISA

To transfer an existing investment into your Halifax Stocks and Shares ISA from your Halifax Share Dealing Account, you will need to sell your investment(s) first and then re-purchase them within the ISA (this is an HMRC requirement which is commonly known as bed-and-ISA). Please note that selling online or over the phone may also trigger an event for Capital Gains Tax purposes.

You can complete this transfer online or over the phone however we would recommend calling us, as this is the quickest way to complete a sale and re-purchase.

  • Moving investments into a ISA by phone (bed-and-ISA)

Step 1 - Sell your shares by calling us on 03457 22 55 25 (Calls will be monitored and recorded. Call costs may vary depending on your service provider).
Step 2 - We will automatically transfer the sale proceeds into your Halifax Stocks and Shares ISA.
Step 3 - You can then invest in any ISA eligible stock over the phone (we don’t charge you dealing commission for your re-purchase).

  • Moving investments into an ISA online

Before you transfer investments into an ISA online, you’ll need to be aware that when you complete a sale, you will not be able to transfer this money into your Halifax Stocks and Shares ISA for 2 working days. Please consider that the price of your investment could change within this period.

Step 1 - Trade the investments you want to move into your ISA online (make sure your investment is eligible for an ISA first).
Step 2 - Once your sale proceeds have settled (after 2 working days) you’ll need to contact us to move your cash into the ISA.
Step 3 - When the money is showing in your ISA you can complete the re-purchase online.

Please note, usual dealing commission applies for the sale and repurchase when completing this process online.

  • Moving cash from a Halifax Share Dealing Account into a Halifax Stocks and Shares ISA?

To transfer the cash into your Halifax Stocks and Shares ISA from another Halifax Share Dealing Account you’ll need to contact us by Web Chat or by calling us.

Please note, your money must be showing as ‘available to withdraw’ before it can be moved into your ISA.

  • Moving cash into your Halifax Investment ISA (for ready-made investments)

If you've already got a Halifax Investment ISA with us, just sign into your account and select 'Transfers' from the menu on the right.

Sign in to transfer using online banking

Adding an ISA onto an existing account

  • Adding an ISA to your share dealing account

If you’ve already got a Halifax Share Dealing Account you can open an ISA, all you need to do is sign-in, and click on ‘Open a New Account' on the right-hand side.

Sign in

  • Adding an ISA to your ready-made investment account

If you’ve already got an investment account you can open an ISA by applying here.

Transferring from another broker to us

  • Share dealing

Step 1 - Sign in, click on transfers in the right hand menu and complete our online transfer form.
Step 2 - When it’s completed, sign it and post it to us using the address on the form, and that’s it!

If you don’t have access to a printer please let us know and we’ll post a transfer form to you.

Sign-in

  • Ready-made investments

If you've already got an Investment ISA with us, just sign into your Online Investments account and select 'Transfers' from the menu on the right. Please note, we can only accept cash transfers which means your existing broker will have to sell your investments before transferring to us.

If you're transferring in from an Innovative Finance ISA, please contact your local branch.

Sign in to transfer using online banking

  • How long does it take to transfer to a Stocks and Shares ISA?
Transferring to Transferring from Transfer time
Halifax Stocks and Shares ISA Halifax Cash ISA 2-3 weeks *
Non-Halifax Cash ISA 2-3 weeks *
Stocks & Shares ISA

2 - 3 weeks to transfer cash or UK shares

6 - 8 weeks for funds or international shares *

Innovative finance ISA 30 calendar days *
Lifetime ISA 30 calendar days *
  • How long does it take to transfer to an Investment ISA?
Transferring to Transferring from Transfer time
Halifax Investment ISA Halifax Cash ISA 2-3 weeks *
Non-Halifax Cash ISA 2-3 weeks *
Stocks & Shares ISA 2-3 weeks *
Innovative finance ISA 30 calendar days *
Lifetime ISA 30 calendar days *


* These transfer times are based on industry guidelines and may vary.

Getting your share certificates into an ISA

It isn’t possible to directly transfer a certificate into your ISA unless it has come from an approved HMRC scheme/plan (see Transferring shares from an HMRC approved scheme/plan). To transfer the shares into your Stocks and Shares ISA, you can:

  • Open a Share Dealing Account and a Stocks and Shares ISA.
  • Deposit the share certificate into a Halifax Share Dealing Account. This takes approximately 10 working days.
  • Once the shares are showing in your account, follow the below steps:

Step 1 - Sell your shares by calling us on 03457 22 55 25 (Calls will be monitored and recorded. Call costs may vary depending on your service provider).
Step 2 - We will transfer the sale proceeds into your Stocks and Shares ISA.
Step 3 - You can then invest in any ISA eligible stock.

Please note, telephone dealing commission is £25 per deal. If you are completing a sale and repurchase over the phone we’ll waive the purchase dealing commission. Selling stock may trigger an event for Capital Gains Tax purposes.

Transferring your investments to another person’s ISA

You can’t transfer your shares directly into another person’s ISA (you can transfer to another person's non-ISA). The same applies if you want to transfer another person’s shares into your ISA.

However, where an ISA holder died on, or after, 3rd December 2014, their surviving spouse or civil partner can inherit their ISA tax benefits. You can find more information in Bereavement support.


Halifax Share Dealing Limited.  Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.