Tax on ISAs, SIPPs, and Investment Accounts

Tax on ISAs, SIPPs, and Investment Accounts

You don’t have to pay tax on income or capital gains from ISAs or Personal Pensions, and you don’t need to declare your ISA investments on your tax return.

However, you may need to declare income or any capital gains for your Investment Account on your Self-Assessment tax return. Any sale of units, including switches, could trigger a capital gains liability.

We suggest getting in touch with HMRC to find out if Capital Gains Tax (CGT) affects any accounts you have with us, particularly when you’re thinking of switching or selling.

Transferring investments

If you’re looking to transfer your ISA to us, you won’t be liable for CGT but might be if you transfer you investments held outside of an ISA.

This means you may be out of the market for two days, and you may have to pay a bid-offer spread on your funds. However, this won’t create a CGT liability.

Inheritance ISA allowance

Spouses and civil partner can now inherit the tax benefits of an ISA.

The way this works is that you receive an extra ISA allowance, in addition to your standard ISA allowance. This additional allowance will be equal the value of your spouse or civil partner when they passed away.

To use this allowance, please send us an Inherited ISA Allowance Form.

Still need help?

Talk to our team

Give one of our UK-based associates a call on

0333 300 3351

Contact us

Send us your question online or visit us at our Investor Centre in London.