FAQs - Fidelity

FAQs

Your ISA questions answered

Do I have to declare my ISA on my tax return?

No. You don’t have to declare either your ISA, or any profits from it, on your tax return, as you are not liable for income or capital gains tax on it.
Please be aware that the value of tax savings and eligibility to invest in an ISA will depend on individual circumstances, and all tax rules may change in the future.

Do I have to invest a minimum amount in an ISA?

You can invest from as little as £50 per month in any of the FundsNetwork^TM funds or you can pay in a lump sum – whatever suits you best. You can top up this amount over the year if you want to.

Is there a maximum amount I can invest in an ISA?

The overall annual limit for is £7,200. You can invest all of this in a stocks and shares ISA, or you can invest up to £3,600 in a cash ISA with the remaining balance in a stocks and shares ISA.

How long do I have to keep my ISA for?

ISAs have no fixed investment term, although we believe you should only consider investment in equities over a five-year period or more.

How many ISAs can I contribute to in one year?

You can contribute to two ISAs – one cash, and stocks and shares ISA. Learn more about the ISA rules

Can I move my money between the different types of ISA?

You can transfer some or all of the money you have saved in cash ISAs in previous tax years without affecting your annual ISA investment allowance. You can also to transfer money saved in the current tax year, but it must be the whole amount saved in that cash ISA (in that tax year) up to the day of the transfer.

Transfers from stocks and shares ISAs to cash ISAs are not permitted.

What happens if I want to withdraw my money?

While some providers may have an exit fee, Fidelity funds do not.

How do I buy a Fidelity ISA?

Once you’ve chosen your funds and read the Key Features documents, you can apply online or phone us on 0800 41 41 61. Our lines are open from 9am to 6pm. You’ll need to have your National Insurance number, and your bank account details handy (to pay monthly by direct debit).

What about investing outside an ISA?

You can make a lump sum investment, set up a monthly savings plan, invest into an investment trust, or top up an existing account. Learn more about investing outside an ISA.

What about selling an existing investment and then investing it in an ISA?

You can sell an investment and then buy the fund back, this time within an ISA wrapper. Find out more about Bed and ISA

What charges do I have to pay on an ISA?

There is an initial charge between 0% and 1.5% depending on the fund. You can find further details on these charges by using Fund Finder to view your funds.