Stocks & Shares ISA

To transfer a stocks and shares ISA, simply ask your new provider to transfer an existing ISA. They will work with your old provider to transfer the funds.

Yes. It's easy to transfer a cash ISA to a stocks and shares ISA.

The ISA rules have changed as of 6 April 2024. If you've made contributions to your cash ISA within the current tax year, you can now choose to move some or all of it.

If you want to keep your tax advantages, you'll need to arrange a transfer - rather than withdrawing the money yourself and opening a new ISA.

It’s free to transfer an ISA to interactive investor. However, your existing provider may charge an exit fee when you leave, so check this before you start.

There are two ways to invest in a stocks and shares ISA:

• Contribute a lump sum: if you have spare cash, or want to maximise your tax-free allowance, then topping-up your ISA means you can stash your money away for a rainy day.
• Drip-feed your money: the 'little and often' approach can be less risky and more profitable. By adding money regularly, you end up buying shares at different prices. When the market goes up, your money buys fewer shares. When the market drops, your money buys more. This is known as pound-cost averaging. Find out more about our free Regular Investing service.

The ISA rules have changed as of 6 April 2024. You can now have - and contribute - to as many ISAs as you want (except for Lifetime ISAs and Junior ISAs). Provided you don't contribute more than your £20,000 ISA allowance across them all.

Yes, you can have a cash ISA and a stocks and shares ISA at the same time. You can also contribute to both within the same tax year - though your £20,000 annual allowance covers both accounts.

Opening a Stocks and Shares ISA with ii only takes a few minutes. You will need to have your address, debit card details and National Insurance number ready.

There is no minimum amount needed to invest in a Stocks and Shares ISA. The maximum you can contribute in any given tax year is £20,000.

But remember, this allowance includes all types of ISA. So if you also have a cash ISA, this also counts towards your £20,000 annual allowance.

Yes, you can withdraw your money from an ISA at any time. However, this does not renew your annual contribution allowance. Once you've paid into an ISA, that part of your allowance has been used.

You can open a Stocks and Shares ISA if you are:

• Over 18
• A resident in the UK

If you've already opened a Stocks and Shares ISA with another provider, you can transfer that ISA to ii.

Find out more: Transfer your ISA

Any income made from investments in a stocks and shares ISA can either be reinvested, held as cash, or paid out to your nominated bank account.

The cost of investing in a stocks and shares ISA includes the platform fee and the trading fee. We charge a low, monthly £4.99 for our ISA if you're investing under £50,000 on our Investor Essentials plan. Each trade typically costs £3.99 - however, you can reduce this with our free regular investing service.

Find out more about Our Charges & Regular Investing.

Before you invest, consider these questions:

1. Do you have any debts? Debt repayment, aside from mortgages, can often carry a high interest rate. It's generally best to focus on reducing your debts before deciding to invest.
2. Do you have a rainy day fund? Having savings can protect you against unexpected costs. Once you've got this safety net in place, you'll be in a better place to invest your money.
3. Have you thought about your risk tolerance? Risk is an important part of investing. Establishing goals, considering how much you want to invest, and how long you want to be in the market all contribute to how much risk you want to take on.
4. Have you done your research? Learning the basics about such things as management fees, dividends, diversification and volatility will help you become a better investor.
5. Can you commit to investing over 5 years or more? Over the short term the stock market can be unforgiving. By investing for longer you may be able to ride out anything from general market volatility to larger shocks to the market.