Managing Your ISA

1. Tax year information and subscription limits

Each year the Government allows you to invest in a tax-efficient product called an ISA (an Individual Savings Account). The maximum amount you can invest in the current tax year is £20,000. You can select to invest your full allowance in one or split it between different types of ISAs. 

More information on ISAs and how they work can be found on the Government Website.
 

• What is an ISA declaration and why do I need to complete it?
  An ISA declaration is required by HMRC. This makes sure when you apply for an ISA you are aware of the current ISA rules.

• When does the tax year start and end?
  The tax year runs from 6 April to 5 April every year. On 6 April, you’ll be allocated the new tax year's ISA subscription allowance.

• Do I need to open an ISA every year?
  If you already have an ISA, you do not need to open a new account. All you need to do is fund your ISA at any point in the existing or new tax year to subscribe. 

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2. Moving stock or money into an ISA

• Moving stock from your IWeb Share Dealing Account into your IWeb Stocks and Shares ISA

Only shares that have been transferred from an HMRC approved scheme can be directly transferred into an ISA. For other shares, you can do a sale and repurchase (bed and ISA) to move investments to your ISA (subject to the investments being ISA eligible).

This involves selling your shares, moving the cash into an ISA and buying the shares back in one instruction. The amount of cash moved will count as a subscription to your ISA and the sale may be subject to Capital Gains Tax.
To request a sale and re-purchase online, you can complete the ISA sale and re-purchase form. Select ‘Help and Guidance’ then ‘frequent questions’, ‘useful forms’ when signed in to your account.

You can also complete this transaction with one of our colleagues over the phone.

• Moving cash from a IWeb Share Dealing Account into your IWeb Stocks and Shares ISA

If you'd like to transfer money from your Share Dealing Account into your ISA then you may be able to do this online. We can only transfer money into an active ISA.
Please note, your money must be showing as ‘available to withdraw’ before it can be moved into your ISA.
To request this online, you can complete the Transfer cash into your ISA form. Select ‘Help and Guidance’ then ‘frequent questions’, ‘useful forms’ when signed in to your account.

You can also complete this transaction with one of our colleagues over the phone or by web chat.

Sign in 

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3. Adding an ISA onto an existing account

If you’ve already got a IWeb Share Dealing Account you can open an ISA, all you need to do is sign-in, and click on ‘Open a New Account' on the right-hand side.

Sign in

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4. Transferring from another broker to us

Step 1 - Sign in, click on transfers in the right hand menu and complete our online transfer form.
Step 2 - When it’s completed, sign it and post it to us using the address on the form, and that’s it!

If you don’t have access to a printer please let us know and we’ll post a transfer form to you.

Sign in to start your transfer

• How long does it take to transfer to a Stocks and Shares ISA?

* These transfer times are based on industry guidelines and may vary.

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5. Getting your share certificates into an ISA

It isn’t possible to directly transfer a certificate into your ISA unless it has come from an approved HMRC scheme/plan To transfer the shares into your Stocks and Shares ISA, you need to:

Deposit the share certificate into a IWeb Share Dealing Account by downloading and printing a transfer form (PDF, 47KB) and a separate Crest transfer form (PDF, 39KB) for each stock you want to deposit. This takes approximately 10 working days.
Please note that we can’t accept Irish certificates. For further help, please contact the company Registrar directly.

For shares from a HMRC approved scheme/plan:

If your shares have matured from an approved plan, you'll need to send us a written request to directly transfer your shares into your Stocks and Shares ISA known as a 90 day transfer form (PDF, 48KB).
You’ll need to include proof that the shares have been exercised (or withdrawn from a SIP) in the last 90 days. This is known as a Letter of Appropriation, and you can get this from your share scheme administrator.

We would recommend that you send your request and all the required paperwork at least 2 weeks before the end of the 90 day period. This will give us time to carry out relevant checks.

For other shares:

You’ll need to complete a Sale and Repurchase once the shares are showing in your Share Dealing Account.

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6. Transferring your investments to another person’s ISA

You can’t transfer your shares directly into another person’s ISA (you can transfer to another person's non-ISA). The same applies if you want to transfer another person’s shares into your ISA.

However, where an ISA holder died on, or after, 3rd December 2014, their surviving spouse or civil partner can inherit their ISA tax benefits. You can find more information in Bereavement support.

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