Top up your ISA
New £15,240 ISA allowance for 2016/17.
Your ISA allowance is valuable – it allows you to get more back from your investments because you don’t pay income and capital gains tax on any returns. You can invest the full amount (up to £15,240 in 2016/17) into either an Investment ISA, cash ISA or the new innovative finance ISA, or alternatively split your investment between an Investment ISA, cash ISA or innovative finance ISA, providing you stay within the overall £15,240 limit. Cash you withdraw from a flexible ISA can be replaced during the same tax year without counting towards your annual ISA allowance. This is known as ISA flexibility
There is no limit to how much the value of your ISA can grow; however, the value of your investments can fall as well as rise and you may get back less than you initially invested. The value of tax allowances depend on your own circumstances and ISA benefits may change in the future. Investing is not for everyone, if you are unsure please seek independent advice.
How do I use this year's allowance?
There are a number of ways to make a lump sum payment to your Investment ISA and maximise your full allowance. Remember, you don't have to make your investment choices straight away - as long as you have the cash in place this tax year, that’s enough to secure the tax benefits of this year’s allowances.
Note: If you did not subscribe to your Investment ISA in the 2015/16 tax year you will need to complete a Declaration of Authority. Further information can be found below.
|1. Top up online via Debit Card
||Log in to your 'Cash Manager' to top up your ISA (min £5). |
|2. Telephone payment
||Make a payment over the phone when calling us on 0800 279 6551*.|
|3. Transfer cash from your MarketMaster®
||Call us on 0800 279 6551*. Please note that this can take up to 2 working days to complete. |
|4. Transfer cash and/or stocks and shares from your MarketMaster®
||Call us on 0800 279 6551*.|
Cash transfer - This can take up to 2 working days to complete.
Stocks and shares transfer - This can take up to 5 working days to complete. This is because we have to sell the shares from your MarketMaster and buy them back in your ISA. There will be a charge of telephone commission and stamp duty buy back. PTM levy may also apply if the transaction is £10k or over.
Note: To transfer certificates in a spouses name to your Investment ISA, you will also need a Special Stock Transfer form [PDF, 63KB] to be completed and sent to us at the address below.
|5. Electronic transfers
||Send your payment to Barclays Stockbrokers. Sort Code 20-87-98 and Account Number 80231207, quoting your 13 digit ISA portfolio number as a reference. Please note we will only accept payments via this method from the nominated bank account details we have for you.|
||You must send your cheque with a completed ISA Additional Subscription form [PDF, 246KB] to the address below. Please include your 13 digit ISA portfolio number on the back of the cheque.|
|7. Transfer certificated shares
||If you hold certificated shares you will need to add these to a MarketMaster before we can add them to your ISA.|
We will add the certificated shares to a MarketMaster, selling the shares within the MarketMaster, transferring the sales proceeds to your Investment ISA then buying the shares back within your Investment ISA. We won’t charge a MarketMaster admin fee on the account while it is used for the purpose of adding shares to your ISA, however there will be a telephone commission charge and stamp duty on the buyback of shares within your ISA. A PTM levy may also apply if the transaction is £10k or over.
If you are transferring your shares to your spouse, you will also need a Special Stock Transfer form [PDF, 63KB] to be completed and sent to us at the address below.
Learn more about transferring share certificates to an ISA
|8. Save As You Earn/Profit sharing schemes
||Add qualifying shares from a SAYE scheme or Profit Sharing scheme within 90 calendar days of release.|
You must send us a completed ISA Additional Subscription form [PDF, 1.8MB] and ISA CREST Transfer form [PDF, 49KB], the share certificate, and proof that the share certificate is SAYE stock, to us at the address below.
Declaration of Authority
If you did not subscribe to your investment ISA in the 2015/16 tax year, under HMRC regulations you will need to complete a Declaration of Authority.
How do I complete this?
- Online - You can do this quite simply online when topping up your ISA via Cash Manager. A box will automatically appear asking you to complete the Declaration of Authority before making your payment.
- Telephone - You can call us to complete the Declaration of Authority before choosing payment methods 2 to 5
- Post - If you’d prefer to send this to us, please complete the Investment ISA Additional Subscription Form [PDF, 1.8MB] and return it to us at the address noted below.
Make regular payments to your ISA
Rather than topping up at the last minute every tax year, we make it easy for you by arranging the set up of a regular payment to your ISA by direct debit for £50 or more. Simply complete and return a Regular Payments to your ISA form [PDF, 356KB] to the address below.
Please send all forms/cheques to the following address:
ISA New Business Department
value of your investments can fall as well as rise and you may get back less than you initially invested
- Investing is not for everyone, if you are unsure please seek independent advice.