Bed and ISA/SIPP
Move investments to an ISA or SIPP
Important information - Investments can go down as well as up in value, so you could get back less than you put in. The information on this page isn't personal advice - please ask us for advice if you’re not sure if a course of action or investments are right for you. Pension and tax rules can change and their benefits depend on your circumstances. Once held in a pension your money isn’t usually accessible until age 55 (57 from 2028).
You can use investments from your HL Fund and Share Account to open or top up an ISA or SIPP. This is sometimes called a Bed and ISA or Bed and SIPP. You can’t directly move investments into these accounts, they need to be sold and repurchased.
We’re currently working on a new, digital process which will make it easier for you to do this. We aim to make it available in the new tax year.
But for now, you can sell investments in your Fund and Share Account online and then separately move the money to your ISA or SIPP. You can then reinvest the cash.
Investments held in an ISA or SIPP are free from UK income tax and capital gains tax.
When selling investments in a Fund and Share Account you could realise a capital gain or loss. If the gain is more than the capital gains tax allowance (£12,300 in the 2022/2023 tax year) you may pay tax on those gains.
You’ll pay the same charge to hold funds in an HL Stocks and Shares ISA or SIPP as the Fund and Share Account. To hold shares in an ISA or SIPP there’s a charge of 0.45% (capped at £45 for ISA, £200 for SIPP). View our charges.
Pension, ISA and tax rules can change and their benefits depend on your circumstances. Once held in a pension your money isn’t usually accessible until age 55 (57 from 2028).
How to move investments
Sell the investments you’d like to move
Log in to your HL Fund and Share Account and sell investments. Standard share dealing charges apply. There are no dealing charges for funds but other charges do apply.
Share trades take two working days to settle and fund trades usually take four working days. You can find the date a trade settles on your contract note.
Move money to your ISA or SIPP
Once your trades have settled you can transfer the money via our website:
- In your Fund and Share Account, choose the Cash tab
- In the Manage cash on your account box, choose Transfer money
- Select whether to move your money to your ISA or your SIPP
Pension and tax rules can change and their benefits depend on your circumstances. Once held in a pension your money isn’t usually accessible until age 55 (57 from 2028).
Buy back investments in your ISA or SIPP
You can buy back your investments in your ISA or SIPP. If you are buying shares, our standard share dealing charges apply. You may not be able to buy as many fund units or shares as you held before. This can be because of:
- Market prices changing
- The difference between the buy and sell price (the bid-offer spread)
- Dealing charges and stamp duty (where applicable)
Some investments can’t be held in a Stocks and Shares ISA or SIPP. This will be shown on the share or fund’s own factsheet.
Deadlines for this tax year
The tax year ends on 5 April. To use investments to make a payment into an ISA or SIPP this tax year, make sure you’ve sold investments in your HL Fund and Share Account by 30 March for funds and 1 April for shares.
It’s better not to leave it to the last minute, in case your trades take a bit longer to complete.
The money needs to be in your ISA or SIPP by 5 April to count for this tax year. But you don’t need to reinvest straightaway for it to count towards this year’s allowance. It can stay as available cash within the Stocks and Shares ISA or SIPP until you’re ready to invest.