Managing your ISA

Make the most of your Scottish Widows Share Dealing Stocks and Shares ISA.

I want to know:

Tax year information and subscription limits

Moving stock or money into an ISA

Adding an ISA to an existing account

Transferring from another broker to us

Getting your share certificates into an ISA

Transferring your investments to another person’s ISA

Tax year information and subscription limits

Each year the government allows you to invest in a tax-efficient product called an ISA (an Individual Savings Account). The maximum amount you can invest in the current tax year is £20,000. You can select to invest your full allowance in one or split it between different types of ISAs. 

Find more information on ISAs and how they work on the government website.

  • What is an ISA declaration and why do I need to complete it?
    An ISA declaration is required by HMRC. This makes sure when you apply for an ISA you are aware of the current ISA rules.

  • When does the tax year start and end?
    The tax year runs from 6 April to 5 April every year. On 6 April, you’ll be allocated the new tax year's ISA subscription allowance.

  • Do I need to open an ISA every year?
    If you already have an ISA, you do not need to open a new account. All you need to do is fund your ISA at any point in the existing or new tax year to subscribe.

Moving stock or money into an ISA

Moving stock from your Scottish Widows Share Dealing Account into your Scottish Widows Share Dealing Stocks and Shares ISA

Only shares that have been transferred from an HMRC approved scheme can be directly transferred into an ISA. For other shares, you can do a sale and repurchase (bed and ISA) to move investments to your ISA (subject to the investments being ISA eligible).

This involves selling your shares, moving the cash into an ISA and buying the shares back in one instruction. The amount of cash moved will count as a subscription to your ISA and the sale may be subject to Capital Gains Tax.

To request a sale and re-purchase online, you can complete the ISA sale and re-purchase form:

  • log in to your account
  • select Help and Guidance
  • select Frequent questions
  • select Useful forms, and select the ISA sale and re-purchase form.

You can also complete this transaction with one of our colleagues over the phone.

Moving cash from your Scottish Widows Share Dealing Account into your Scottish Widows Share Dealing Stocks and Shares ISA

If you'd like to transfer money from your Share Dealing Account into your ISA then you may be able to do this online. We can only transfer money into an active ISA.

Your money must be showing as ‘available to withdraw’ before it can be moved into your ISA.

To request this online, you can complete the Transfer cash into your ISA form:

  • log in to your account
  • select Help and Guidance
  • select Frequent questions
  • Select Useful forms, and select the Transfer cash into your ISA form.

You can also complete this transaction with one of our colleagues over the phone or by web chat.

Adding an ISA to an existing account

If you’ve already got a Scottish Widows Share Dealing Account you can open an Scottish Widows Share Dealing Stocks and Shares ISA:

Transferring from another broker to us

To transfer from another broker to us:

  • log in to your account
  • select Transfers
  • fill in our online transfer form
  • sign the form
  • return to us at the address on the form.

How long does it take to transfer to a Scottish Widows Share Dealing Stocks and Shares ISA?

  • 4 - 6 weeks to transfer cash or UK shares.
  • 8 - 10 weeks for funds or international shares.

These transfer times are based on industry guidelines and may vary.

 

Getting your share certificates into an ISA

It isn’t possible to directly transfer a certificate into your ISA unless it has come from an approved HMRC scheme or plan.

To transfer the shares into your Stocks and Shares ISA, for each stock you want to deposit you need to:

This takes approximately 10 working days.

You can also log in to your account and download the forms from there.

You should know that:

  • we can’t accept Irish or any other international certificates, for further help, contact the company Registrar directly
  • we can only transfer stock where the name on the certificate matches the name on the account
  • we recommend you send your certificate by recorded delivery as we accept no responsibility for the loss of any certificates
  • Our CREST number is 33X24.

For shares from a HMRC approved scheme or plan

If your shares have matured from an approved plan, you'll need to send us a written request to directly transfer your shares into your Stocks and Shares ISA known as a 90 day transfer form (PDF, 48KB).

You’ll need to include proof that the shares have been exercised (or withdrawn from a SIP) in the last ninety days. This is known as a Letter of Appropriation, and you can get this from your share scheme administrator.

We would recommend that you send your request and all the required paperwork at least 2 weeks before the end of the ninety day period. This will give us time to carry out relevant checks.

For other shares

You’ll need to complete a Sale and Repurchase form once the shares are showing in your Share Dealing Account.

Transferring your investments to another person’s ISA

You can’t transfer your shares directly into another person’s ISA (you can transfer to another person's Scottish Widows Share Dealing Account). The same applies if you want to transfer another person’s shares into your ISA.

However, where an ISA holder died on, or after, 3 December 2014, their surviving spouse or civil partner can inherit their ISA tax benefits. You can find more information in Bereavement support.

The Scottish Widows Share Dealing Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.