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ISAs and SIPPs at a glance

Tax-efficient ways to save for your goals

  Important information - please keep in mind that the value of investments can go down as well as up, so you may get back less than you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. Withdrawals from a Junior ISA will not be possible until the child reaches age 18. You can't normally access money in a pension until age 55 (57 from 2028).

Don't pay more tax than you need to

An ISA or Self-Invested Personal Pension (SIPP) are both tax-efficient ways to save as they each have their own valuable annual tax allowances. But how you choose to divide your money between them can depend on your future goals.

An ISA can be used to save for all sorts of goals as it's easy to access, while a SIPP is typically for retirement, as withdrawals from a SIPP will not normally be possible until you reach age 55 (57 from 2028).

We offer an award-winning Stocks and Shares ISA and SIPP, together with a Junior ISA and Junior SIPP.

Below we'll take you through the differences between Fidelity's ISA and SIPP.

Make the most of your tax allowances

ISA and pension allowances reset at the start of every tax year, which runs from 6 April to 5 April the following year. These allowances are separate, so you can put money in both types of accounts. You can also save for a child's future by investing in a Junior ISA and a Junior SIPP, which have their own tax benefits. If you’ve used your full pension and ISA allowances this tax year, you can still invest in our Investment Account.
 

 

 Fidelity’s ISA

Fidelity’s SIPP

Your yearly allowance 

£20,000

  • You can get tax relief up to the Annual Allowance of £60,000 or 100% of your earnings if you earn less than this.
  • Where you have no or very low earnings you can still contribute £2,880 and get tax relief on contributions, boosting them to £3,600. (learn more about pension allowances).

Key tax benefits

  • Tax-free growth

  • Tax-free income

  • Tax-free withdrawals

  • Tax relief on contributions. For example for every £80 you invest, HMRC will add £20; or you can claim more if you pay higher tax rates.

  • Tax-free growth

  • Up to your Lifetime Allowance you can withdraw up to 25% in tax-free cash, normally once you've turned 55 (57 from 2028). Other withdrawals are taxed at your usual income tax rate. Where you exceed your Lifetime Allowance further taxes will apply to any withdrawals.

Flexible access

Take your money out at any time Normally from age 55 (57 from 6 April 2028)

Could be used for

  • All sorts of savings goals, such as university fees, a house deposit or the cost of a wedding
  • Retirement savings to sit alongside a pension
  • Saving for retirement
  • Providing an income for retirement
  • Estate planning, thanks to some additional tax advantages
  • A way to save where you can’t be tempted to take the money out

Choice of ways to invest

Lump sum and regular savings

Lump sum and regular savings

Minimum amount to invest 

£25 a month / £1,000 lump sum

£20 a month / £800 lump sum*

*HMRC will add basic tax relief of 20% to each payment (or more if you pay higher tax rates)

Wide choice of investments 

Funds, shares, investment trusts, Exchange-traded funds (ETFs)

Funds, shares, investment trusts, ETFs

Eligibility

UK residents age 18 or over

(We have a Junior ISA for under 18s)

UK residents age 18 or over

(We have a Junior SIPP for under 18s)

Getting started is easy

It's easy to open an ISA and a SIPP online and you have until 5 April 2024 to use this year’s allowances. Invest how you like: 
 

  • Set up a regular savings plan from £25 for an ISA or £20 for your SIPP
  • Invest a lump sum from £1,000 in your ISA or £800 in your SIPP

Open a Stocks and Shares ISA

Invest in our Stocks and Shares ISA and pay no income or capital gains tax on your investments.

Start saving in a SIPP

A tax-efficient way to save for your retirement.

Already have an account with us?

Top up your existing accounts by 5 April to make the most of this tax year's allowances.

Flexible investing with no limits

Don’t forget, if you’ve used your full pension and ISA allowances this tax year, you can still invest in our Investment Account.

Find out more
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Current tax allowances

Visit our tax allowances hub to learn more about how allowances work, how to maximise your pension savings and the latest tax rates.

Understand your tax allowances

Bring your investments together and get £200 to £2,000 cashback

If you’ve got ISAs or pensions spread across different providers, moving them to Fidelity can help you take control and manage your money more effectively. Plus, get £200 to £2,000 cashback. Exclusions, T&Cs apply.

  • Moving your old pensions and ISAs to us won’t count towards your current tax year ISA allowance​
  • We’ll cover up to £500 if your current provider(s) charge exit fees. T&Cs apply.
  • Just tell us where they are currently held, and we’ll do the rest.​
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Why invest with Fidelity?

Investing is what we do and it’s been our passion to help people grow their financial wealth for over 50 years. We’re proud to be trusted by over 1.6 million investors in the UK*. We offer one of the widest fund ranges on the market, plus shares, investment trusts and Exchange-traded funds (ETFs) – and a range of guidance tools to help make your investment decisions easier. 

We don’t like to blow our own trumpet but it’s nice when someone else does. You can see this in our four-star rating on Trustpilot** and the awards we have won for Best Buy ISA and Best Buy Pensions. We’re also proud to be a Which? Recommended Provider for Self-Invested Personal Pensions for three years running.

*Fidelity as at 30.09.23. **4 stars Trustpilot rating based on 4,487 reviews as at 14.12.23.

 
      

Need a little more help?

If you have more than £100,000 to invest, our financial advisers can help you make the most of your money. Just call us on 0800 222 550 for a free, no-obligation discussion about your needs.

Explore our financial advice service
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FAQs

What is a tax allowance?
Is an ISA tax-efficient for higher-rate taxpayers?
Is a pension tax-efficient for higher-rate taxpayers?
Is there tax relief on ISA contributions?
Can I have more than one pension?

Important information - this information and our guidance tools are not a personal recommendation in respect of a particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity's advisers or an authorised financial adviser of your choice. You should regularly reassess the suitability of your investments to ensure they continue to meet your attitude to risk and investment goals.