Understand your options
There are number of options for beneficiaries who inherit investments. So you’ll have to decide what to do with the money, once you’ve obtained the necessary paperwork. Find out what you’ll need for each option below.
I’d like to…
Once you’ve decided on which option to take, you can use our handy checklist to make sure you've got everything you need, then tell us what you want to do with the investments from the estate. Remember, before we can sell or transfer holdings, we need a sealed copy of the Grant of Representation or, for smaller estates, a Small Estates Form. Find out more from our Probate page.
Additional ISA allowance for spouses or civil partners
The spouse or civil partner of someone who has died on or after 3 December 2014 can inherit the tax benefits of their ISAs. The way this works is that they receive an extra ISA allowance, called an ‘additional permitted subscription’.
This extra allowance is on top of their standard ISA allowance, its value depends on the ISA investor’s date of death:
- Where the ISA investor died between 3 December 2014 and 5 April 2018, the allowance equals the value of the ISA at the date of death
- Where the ISA investor died on or after 6 April 2018, the allowance equals the higher of the value at date of death or the value of the ISA at the date the account closes
A valuation of your spouse’s entire Fidelity investments, including the value of ISA investments, will be sent.
The allowance is available to use up to three years from date of death, or 180 days from probate being granted; whichever is later.
You still have your own personal annual ISA allowance, currently £20,000 for tax year 2019/20.
If your spouse or civil partner’s ISAs were held with other providers but you wish to invest with Fidelity, you’ll need to transfer your allowance to us first. Just complete the Inherited ISA Allowance Transfer Form.
If you don’t want to invest with Fidelity, you can transfer the allowance to another ISA manager.