ISA stands for Individual Savings Account and first became available on 6th April 1999. The primary benefit of ISAs is the tax advantage that allows individuals to earn on savings or shares without paying income or capital gains tax on their revenue.
We offer a Stocks & Shares ISA, which allows you to trade a wide range of sterling listed stocks and shares that the HMRC consider eligible for trading in a ISA.
If you are an existing client you will need to login to your SVS Online account as usual and apply by clicking the button on the My Accounts page.
If you are a new client you should click here to apply for an Individual SVS Online account and choose the ISA option on Step 4.
For the tax year 2018/2019 you can subscribe up to £20,000 in a Stocks and Shares ISA. (If you have already subscribed to a Cash ISA in the same tax year, this amount is included in the limit.)
To be eligible to subscribe to a ISA you must:
The United Kingdom (UK) means England, Wales, Scotland and Northern Ireland. It does not include anywhere outside the UK. In particular it does not include the Channel Islands or the Isle of Man.
You can subscribe CASH by depositing funds direct into your ISA or by transferring funds from your SVS Online account. If you send us a CHEQUE we will need to wait five working days for it to clear on to your SVS Online account The funds can then be transferred from your SVS Online account to your ISA.
SHARES can be directly transferred into a ISA only if they have been acquired from an approved SAYE option scheme or a Share Incentive Plan (previously known as Approved Employee Share Ownership Plans). You must transfer shares from an approved SAYE share option scheme into a ISA within 90 days of the exercise of option date and shares from a Share Incentive Plan into a ISA within 90 days after the shares ceased to be subject to the plan.
You will still be able to continue dealing on your ISA account, but won't be able to add any more cash if you are no longer a UK resident. Please notify us at [email protected] if you have a ISA account with us and you think you may no longer qualify as a UK resident.
Before a ISA can be opened you must fill in a ISA application form and agree to our ISA terms and conditions. Please see 'How do I open an account' above for details.
Before we can open your ISA, we must hold
You can transfer
If you only have current year subscriptions the entire account must be transferred. However, we are not obliged to accept transfers in.
You must make a Transfer Application to us when requesting a transfer. To do this please complete and return the Stocks & Shares ISA Transfer Form
If you have requested to transfer your ISA and it holds stocks that we are not able to accept we will contact you prior to initiating the request.
Where current year subscriptions are being transferred from a Cash ISA to our Stocks and Shares ISA, the subscriptions to the cash ISA are treated as if they were made to our Stocks and Shares ISA
You have the right to withdraw all or part of your investments by request to us. To withdraw cash you request a refund in the 'Manage Money' section. To withdraw stock please email [email protected] with your request.
Withdrawals do not affect ISA subscription limits. If you have subscribed the maximum permitted you may make no further subscriptions, regardless of withdrawals.
You will lose tax benefits on any stock or cash withdrawn from ISA