What are the key features of an ISA?

An ISA is designed to help you get more value from your investments whilst being flexible to support your investment objectives.

What are the benefits?

• Take control of your investments; decide where your investments go, at any time.
• Choose from 3,700 funds (with the Modular ISA) plus get access to stocks and shares through a stockbroker.
• Gives you the flexibility to make regular withdrawals as you continue to invest.

Who can take out the Modular ISA?

You can take out the Modular ISA if you are:

• over 18
• a resident in the UK
• not an undischarged bankrupt

How much can I pay in?

The maximum amount you can pay into an ISA in the 2024/25 tax year is £20,000. This limit may be reviewed by HM Revenue & Customs (HMRC) and could change in the future. There is no minimum amount.

You can make regular or occasional payments at any time and you can vary the amount and frequency of your payments, as long as you do not exceed the HMRC maximum limits for tax free savings into an ISA account in any tax year.

What are the charges?

Full details of our charges can be found here. You may also incur charges to other parties depending on the investments you select in addition to your financial adviser (if applicable). These charges can be paid out via your Modular ISA.

Our charges are normally deducted from the ISA Bank Account.

What happens to my ISA when I die?

If an ISA account holder dies on or after 6 April 2018, the investments remain sheltered from tax as a ‘continuing account of a deceased investor’, until the earlier of:

• the completion of the administration of the deceased’s estate
• the closure of the ISA account, or
• the third anniversary of the ISA account holder’s death.

During this period, no new subscriptions can be made to the account, and it normally cannot be transferred to another ISA manager.