An ISA (Individual Savings Account) is simply a tax-efficient way to save or invest.
The best way to think of an ISA is as a tax ‘wrapper’ – the wrapper protects your money and you aren’t charged tax on the interest you earn*, offering greater growth potential.
For each tax year, there is a limit to the amount you can invest in an ISA – the 2016/2017 tax year allowance is £15,240, and can be invested in any combination of stocks and shares and/or cash.
More flexibility when you invest – You can use your ISA allowance to invest in equity funds, bond funds and cash however you choose – with no more restrictions on the proportion you can hold in cash.
More flexibility after you have invested – You can move your money between equity funds, bond funds and cash whenever you want.
More tax savings - you now have an annual tax-efficient allowance of £15,240 to invest in an ISA, or £4,080 to invest in a Junior ISA.
More tax efficiency – You can earn tax-free interest on all the cash held in your ISA. (There used to be a 20% HMRC charge on interest generated by cash held within the stocks and shares element of an ISA.)
If you have ISAs with another provider, we’ll pay you £100 to £1,000 cashback if you decide to transfer them to us (terms and conditions apply).
Then, once you’ve finished, you could be eligible for more cashback by transferring any pensions over to us.
In addition to any extra cashback you may receive, the added bonus is that by managing all of your investments in the same place, you make your life a whole lot simpler.
The value of investments can go down as well as up and you may not get back the amount invested. The value of tax savings and eligibility to invest in an ISA or Junior ISA depend on personal circumstances. All tax rules may change in future.
The maximum cashback we’ll pay is £1,000 but not all customers will receive this amount. The actual cashback you’ll receive is dependent on the total value of your transfer. The minimum amount you must transfer to be eligible for cashback is £50,000. If you move your assets to another provider within 18 months of completing your transfer, Fidelity reserves the right to reclaim any payments which were made to you as part of this offer. Assets held in an existing Fidelity pension, including the Fidelity Personal Pension provided by Standard Life, the EBS SIPP and any defined contribution pension scheme held through Fidelity are not eligible for the cashback offer. This offer is valid for qualifying applications received between 30 December 2016 and 03 March 2017.
If you have any questions, please call our freephone UK-based team.
Monday to Friday, 8am to 6pm,
Saturday 9am to 6pm.
Please be aware that Fidelity Personal Investing does not give advice. If you are unsure of the suitability of an investment, please contact an authorised financial adviser.
Our UK-based Fidelity Personal Investing team may call you to help you with any queries you may have concerning the process