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Stocks and Shares ISA

Bed & ISA / SIPP

Shelter your existing investments from tax

Apply for a Bed & ISA or Bed & SIPP

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. You cannot normally access money in a pension until at least age 55 (57 from 2028). Our service is for people who are comfortable making their own investment decisions. If you are unsure of the suitability of your investment please seek advice.

Open or top up a Stocks & Shares ISA or SIPP with existing investments

We believe it is vital to shelter as much of your capital from tax as possible and, in many cases, the tax shelters available to investors cost no more than holding your investments outside an ISA or SIPP.

Our Bed & ISA and Bed & SIPP service allows you to sell your shares free of charge and use the proceeds to open, or top up, an ISA or SIPP. You can then immediately buy the same shares back, choose another investment or hold cash. Please note the sale could generate a capital gain (or loss).

How much does a Bed & ISA/SIPP cost?

Selling and buying shares

It's free to sell your shares for online and postal Bed & ISA/SIPP instructions. All you pay is our standard dealing charges and stamp duty on each repurchase.

For online instructions, the charge for your repurchase will be between £5.95 and £11.95 depending on the number of trades you have placed in the previous month.

For postal instructions, you will be charged 1% of the value of the repurchase, subject to a minimum charge of £20 and a maximum charge of £50.

Please note: When buying the same shares back there will be a small difference in price due to the bid offer spread. Therefore, together with the commission and stamp duty this means you will not buy back the same number of shares as you sold.

Shares, investment trusts, ETFs, gilts, and bonds incur an annual fee of 0.45% (maximum £45 a year for the ISA and £200 for the SIPP). View more on charges.

Bed & ISA/SIPP frequently asked questions

  • How long does a Bed & ISA/SIPP take?

    We'll aim to place your first deal as soon as possible - usually within four working days of receipt. However, when dealing volumes are unusually high (such as the end of the tax year), there may be a delay.

    'Placed' for shares means the instruction will be dealt at the live market price. For funds, the instruction is passed to the fund manager to be dealt at the fund's next valuation point.

  • How do I place a Bed & ISA/SIPP instruction?

    Placing a Bed & ISA/SIPP instruction is easy. The quickest, easiest and lowest cost way to deal is online. If you hold your shares or funds in the HL Fund and Share Account, and have registered for online access, you can give us your instruction by logging in to your account and following the Bed & ISA/SIPP links next to your holding (indicated by the bed icon). For online Bed & SIPP applications, you must also already have a HL SIPP open. Alternatively you can download a Bed & ISA or Bed & SIPP form and send it into our office.

    Please bear in mind that a Bed & SIPP is a pension contribution to help fund your retirement. You can normally only access the money from age 55 (57 from 2028), usually up to 25% tax free and the rest taxed as income. It is your responsibility to check that you are eligible. Please refer to the Key Features of the HL SIPP for details. If you have any questions please do not hesitate to call our Pensions Helpdesk on 0117 980 9926.

    Download a Bed & ISA application form

    Download a Bed & SIPP application form

  • Will I buy back the same number of shares or units?

    No. When selling and buying shares or funds there will normally be a difference in price due to the bid-offer spread, and/or the price moving on your fund. Together with dealing commission and stamp duty (where applicable), this means you will not buy back exactly the same number of shares or units as you sell.

    We always endeavour to minimise the bid-offer spread on Bed & ISA/SIPP share trades and we will buy back your shares immediately after they have been sold.

  • Can I Bed & ISA/SIPP share certificates?

    Yes you can Bed & ISA/SIPP share certificates. Simply complete a postal Bed & ISA or Bed & SIPP form and return to our office along with your valid share certificates. You may also wish to complete a CREST transfer form for each stock/company that you are transferring. Your share certificates will usually be re-registered and available to trade 3 working days after we receive your completed CREST transfer form.

    Alternatively, after processing your certificated Bed & ISA/SIPP we will send you a CREST transfer form, which must be signed and returned to our office. Balance share certificates, where applicable, will be returned on completion of the Bed & ISA/SIPP.

Have a question?

Would you like to find out more about this service?

0117 900 9000

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Three ways you could benefit

  • No UK tax to pay
    Investments held in an ISA or SIPP are free of capital gains tax and there is no UK tax to pay on income paid from an ISA.
  • Tax Relief
    If you invest in a SIPP you will also receive tax relief - how much depends on your circumstances. You could turn £8,000 worth of shares in to £10,000 in your SIPP.
  • Harvest gains
    When selling shares outside of an ISA or SIPP, you realise a capital gain or loss. Most people have an annual exemption (£11,700 for the 2018/19 tax year) below which there is no capital gains charge. If you happen to make a loss, you may use this to offset future capital gains.

Please remember, tax rules can change and any benefits will depend on your personal circumstances.

Apply for a Bed & ISA or Bed & SIPP