ISAs held with other providers
- If your spouse’s/civil partner’s ISAs were held with other ISA managers but you would like to invest with Fidelity we first need to transfer the Inherited ISA allowance before you can start investing.
- We will need to find out from the other managers the value of the ISA holdings at the date of your spouse’s death and ask them to release the allowance to Fidelity. Once this has been done, you are free to invest.
- Money held in your spouse’s ISA will not be moved to Fidelity. This will be paid to the beneficiaries of the estate according to the Executor’s instructions.
- If you are a beneficiary you could use this money to put into your ISA.
- Alternatively you could use your own money or money you already hold in a Fidelity Investment Account as long as you don’t exceed the available allowance or expiry date of the allowance.
Follow these simple steps:
1. Complete the Inherited ISA allowance transfer form allowing us to contact the other ISA managers. Do NOT send us any money at this stage
2. We will write to tell you what the total ISA investments are worth and that the allowance has been transferred to Fidelity.
3. You can then invest up to this amount in your ISA.
A few points to bear in mind
- ISA managers may take up to 30 days to send us the ISA valuations.
- You will not be able to transfer the allowance if you have already used any of the allowance with the current ISA manager.
- You can only transfer an inherited ISA allowance once and when it has been moved to Fidelity, it cannot be moved back to the previous ISA manager
The value of investments can go down as well as up so you may not get back the amount invested. Please remember, the value of tax savings in an ISA depends on personal circumstances and all tax rules may change in the future.