New ISA (NISA) - changes from 1 July 2014
- New ISA limit
The NISA allowance (the amount you can invest each tax year) has risen to £15,000 - previously £11,880
- Improved flexibility
Under the new rules you can now split the NISA allowance as you wish between a Stocks & Shares NISA and a Cash NISA.
- Improved transfer options
You can now transfer from a Stocks & Shares NISA to a Cash NISA, and vice versa. Under previous rules you could only transfer from a Cash ISA to a Stocks & Shares ISA.
- Tax-free interest in Stocks & Shares NISAs
Under the new rules interest on cash held in a Stocks & Shares NISAs is completely tax-free. You have always been able to hold cash in a Stocks & Shares ISA, but any interest was paid net of basic rate tax.
Low cost with a wide investment choice
Frequently asked questions about the Stocks & Shares NISA
- What is the annual management charge in the Stocks & Shares NISA?
The charge to hold funds is tiered within the Stocks & Shares NISA:
- 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 Vantage Stocks & Shares NISA is 0.45% (capped at £45 per annum)
For further information please view the NISA charges and interest rates page.
- Can I put shares I already own into a Stocks & Shares NISA?
Yes. In order to transfer shares into an NISA they must be sold and then bought back within the NISA wrapper. This is known as a Bed & NISA.
- What are the charges for dealing in my NISA?
There is no charge for buying, selling or switching funds within your NISA. 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). Share trades are subject to our stockbroking tariff, please see our NISA charges for details.
- Where can I invest in my Stocks & Shares NISA?
The Vantage Stocks & Shares NISA allows you to invest in a wide range of investments including unit trusts and OEICs, shares, investment trusts, ETFs, corporate bonds and gilts.
The Vantage Service is designed for investors who are happy to make their own investment choices, but if you are unsure where to invest, please see our NISA investment ideas for help.
- What happens to any income from my investments within the Vantage Stocks & Shares NISA?
Your Vantage Stocks & Shares NISA can be set up to treat income in one of three ways:
- Reinvested: We will automatically reinvest income for funds, shares and other investments when it reaches £10 per holding. A dealing commission of 1% will apply (£1 minimum, £10 maximum).
- Held on account: Income will be held on your account pending your further investment instructions.
- Paid out as income: Income will be paid out directly to a nominated bank/building society account. This payment will be made within ten working days of the end of each month.
The instruction you give will apply to all income paying holdings within your Vantage Stocks & Shares NISA.
Choose from a wide range of funds, shares, ETFs and more
Access to super low-cost funds and share dealing
Manage your account online or using our free mobile and tablet apps
Expert Bristol-based helpdesk
Mr Hill - client for 1 year
Mr Webster - client for 5 years
Mrs Knox - client for 5 years
Mrs Radeke-Beushausen - client for 3 years