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What you can do with loyalty bonus

Whether you can reinvest or withdraw any loyalty bonus depends on when you bought the funds in question, and the account you bought them in. Here are the key differences explained.

Due to a rule set by the Financial Conduct Authority, there is a difference in what you can do with your loyalty bonus depending on whether your funds were bought before or after 1 April 2014.

'Bought' also includes any transfers or other acquisitions.

Loyalty bonus on funds bought after 1 April 2014

This loyalty bonus can only be reinvested back into funds.

Loyalty bonus on funds bought before 1 April 2014

There are several ways in which you can handle this loyalty bonus:

  • Keep uninvested (as cash)  
  • Reinvest into any other investment   
  • Withdraw to your nominated bank account (where possible)    

You may have to pay tax on loyalty bonuses paid outside of a SIPP or ISA.  

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