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ISA FAQs

Applying for your Stocks and Shares ISA

What is the maximum I can invest in the Stocks and Shares ISA?
The maximum subscription for the 2020/2021 tax year is £20,000.
What is the minimum I can invest in the Stocks and Shares ISA?

The minimum initial lump sum investment to open the ISA is £100. Once you have opened the ISA you may start investing in your choice of stocks and shares.

The minimum investment into each new fund is £100, with the minimum to top-up a fund of £100. Whilst there is no minimum investment into shares, you should consider the dealing charges before placing your trade.

It is possible to set up monthly savings from as little as £25 per fund per month. Please note that you don't need to pay in a lump sum prior to starting a regular saving.

Can I invest on a monthly basis?

Yes. You can set up a Direct Debit to invest into a fund on a monthly basis in a Stocks and Shares ISA, subject to a minimum of £25 per month per fund. It's possible to set up the instruction online.

Payment will leave your bank account on the 7th of each month (or the next working day if the 7th is not a working day) and investments are made on the 10th (or the next working day if the 10th is not a working day).

If your employer allows you to make contributions through payroll to the Stocks and Shares ISA, these will fall in line with your normal payroll date.

Please note, while you can set up an instruction to invest into a fund on a monthly basis, this isn't possible for shares or other equity-based investments.

Can I use money in my Fund and Share Account to apply for a Stocks and Shares ISA?
Yes, you can either do this over the telephone on 0117 314 1795 or send a Stocks and Shares ISA application form with a letter of instruction to Hargreaves Lansdown. Please read the Key Features, Important Investment Notes and Terms & Conditions before you apply.
Can I open a Stocks and Shares ISA with an initial lump sum and top it up later?

Yes. The minimum initial investment is £100. Once your ISA is open you can top up with any amount. Please note, the minimum initial investment into a fund is £100 and the top up minimum is £100.

Managing your ISA

Can I hold more than one fund manager's funds in the Stocks and Shares ISA?

Yes, Hargreaves Lansdown is a fund supermarket so you can mix and match funds offered by different providers within this one ISA wrapper.

Find out how to invest your Stocks and Shares ISA

What happens to any income from my investments?

Your Stocks & Shares ISA can be set up to treat income in one of three ways:

  • Reinvestment: Income will be held within your account and accumulated until it exceeds £10 per holding, when it will be automatically reinvested. This will be done within 10 working days of the end of each month.
  • Deposit: Income will be held on your account pending your further investment instructions.
  • Pay out an income: Income will be paid out directly to a nominated Bank/Building Society account. This payment will be made within 10 working days of the end of each month.

The instruction you give will apply to all income paying holdings within your Stocks & Shares ISA.

Charges

What are the charges for dealing in my ISA?

There is no charge for buying, selling or switching funds within your ISA. All you will pay is the initial charge of the fund less any discount we offer (please refer to the factsheet of your chosen fund for more information). Plus we offer a low cost reinvestment service. Share trades are subject to our stock broking tariff, please see our ISA charges for details.

What is the annual management charge in the Stocks and Shares ISA?

The charge to hold funds is tiered within the Stocks and Shares ISA:

  • 0.45% per annum on the first £250,000 of funds
  • 0.25% on the value of funds between £250,000 and £1m
  • 0.1% on the value of funds between £1m and £2m
  • No charge on the value of funds over £2m

The annual charge to hold shares, bonds, Investment Trusts, ETFs or gilts in the Stocks and Shares ISA is 0.45% (capped at £45 per annum)

For further information please view the ISA charges and interest rates page.

When are the fees & charges calculated?
If you hold a fund that attracts a management fee, this fee is calculated on those chargeable funds you hold on the last day of the month and is applied to your fees account within the first few workings days of the following month.
Where can I see the fees or charges that have been applied to my account?
All management fees and charges will be added to your fees account which you can view by logging in to your account and going to the transaction history. Fees that have been applied to your account will be shown online within the first few days of each month.
How do you collect fees and charges?

Charges will first be collected from cash on your account. To help you manage cash balances to meet the fees due we have introduced a "Suggested Minimum Cash Balance."

The Suggested Minimum Cash Balance is designed to give you an idea of the cash you should hold on account to meet future fees. It is just a suggestion, however. You can ignore this if you wish.

If you don't have any cash on your account, and you have fully subscribed so you can't top-up, you could consider adding money to a Fund and Share Account. If you have no cash in your ISA, we will try to collect fees from cash you hold in your Fund and Share Account before we sell any of your holdings.

If there is insufficient cash on an account to pay the fees due and insufficient cash in the Fund and Share Account too, we will sell sufficient holdings to cover the amount owed and restore the minimum cash balance. There will be a small charge of £1.50 per deal if an automatic sale is required.

Our system will look to collect fees in this order:

  1. Cash in the account in which the fees were generated. If no cash on the account then
  2. Loyalty bonuses received on units purchased before 1 April 2014. If no loyalty bonuses then
  3. Cash in your Fund and Share Account. If no cash in your Fund and Share Account then
  4. Sell holdings to cover fees from the account in which the fees were generated

We will normally sell units of the largest fund holding first. If, for whatever reason, we are unable to sell units of the largest fund holding, we will sell units in the next largest fund holding, and if you do not hold funds we may sell part of other holdings.

Management fees and charges can be viewed within the transaction history section of your online account, where you can also settle any outstanding fees or charges by debit card.

Transferring Stocks and Shares ISAs

Can I transfer existing ISAs with other providers to the Stocks and Shares ISA?

Yes. You can transfer existing ISAs from other providers to your Stocks and Shares ISA. It's also possible to transfer a Cash ISA to a Stocks and Shares ISA and vice versa. Please ensure you understand the risks detailed below first.

Unlike stock market investments, Cash ISAs offer immediate access and your capital is guaranteed (up to £85,000). Furthermore, within Cash ISAs and Stocks and Shares ISA you receive your interest gross. Historically, stock market investments have delivered superior returns when compared with cash over the longer term, although this is not guaranteed and stock market investments can fall in value as well as rise, so you could get back less than you invest.

In order to transfer a Stocks and Shares ISA, you would need to complete a Stocks and Shares ISA transfer form. This should be returned to Hargreaves Lansdown and they will then contact your existing ISA provider to arrange the transfer.

How do I transfer my investments to another manager?

If you want to transfer your investments to another manager please contact them and ask them to arrange the transfer with us.

If I transfer an ISA will it count towards my ISA allowance?
If you are transferring ISAs from previous tax years this has no impact on your ISA allowance for the current tax year. A transfer does not count as a new subscription.

Have a question?

Contact the Helpdesk:

0117 314 1795

Mon - Fri: 8am - 5pm

Sat: 9:30am - 12:30pm

invest@hl.co.uk

Important information

Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of an investment for your circumstances please seek advice.

Hargreaves Lansdown Asset Management is authorised and regulated by the Financial Conduct Authority.

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