What is a Stocks and Shares ISA?
‘ISA’ stands for Individual Savings Account, and it’s a tax-efficient way to invest your money. While you’d pay tax on interest from a savings account, an ISA lets you keep all the gains. As a result, your investment pot could have a better chance to grow.
A Stocks and Shares ISA invests in funds, unit trusts, bonds and shares in companies. You can decide the exact make-up of your ISA, and change it whenever you like.
If you’re willing to take some risk with your money, Stocks and Shares ISAs have the potential to offer higher returns than Cash ISAs.
You can put in up £20,000 this tax year, and you don't pay tax when you take the money out.
Our Stocks and Shares ISA features
Open a plan with as little as £50 a month, or a lump sum of at least £1,500. You can apply online in minutes.
✓ Easy to manage
Stop, start, increase or decrease regular contributions, and pay in lump sums at any time. Login to Member Zone to view and manage your investment.
✓ Hassle-free transfers
Just tell us how much you want to transfer and we’ll do the rest. Transfers don’t affect your £20,000 annual ISA allowance for this tax year.
✓ Potential to boost your ISA even further
Our Investment Booster and Healthy Living Discount could add extra money on top of returns.
✓ Take money out anytime
Take money out and add it back in the same tax year without affecting your annual ISA allowance.
Capital at risk
Special offer - 100% cashback on your first year's product charges
Why a Vitality ISA is different
You'll get all the same features as other Stocks and Shares ISAs, plus three unique benefits:
1. You could earn extra money - on top of returns
Our unique Investment Booster rewards loyalty by adding extra money to your ISA every 5 years when you invest in Vitality funds
2. Access to discounts from leading brands
Open an ISA with us and you'll automatically be part of our Vitality Core healthy living programme which includes a range of discounts from well-known brands, including Champneys and Garmin
3. You could pay no product charge
Maintain healthy lifestyle habits and you could save up to 100% on the product charge with our Healthy Living Discount
How to set up your ISA
Apply online in minutes
Tell us a bit about yourself, and how much you'd like to invest. Choose your funds and we'll give you a projected value
You'll see a summary of your investment and the funds you've selected, plus all the key documents you need
If you're ready to invest, continue through the next steps to set up your plan. You'll need your NI number, and bank details if you're making monthly payments
Once you've submitted your application, you can login to Member Zone to monitor your application. Once it's accepted, you can view and manage your investment. You'll also have access to a range of discounts to help you engage in healthy living
Investment ISA allowance for tax year 2019-20
Transfer your ISA to us
Capital at risk
Transfer your ISA now
A world of funds from leading investment managers
Plus, we offer a range of over 3502 complementary funds from other well-known providers. Select Build a Portfolio when setting up your ISA to add these to your plan.
What are our ISA charges?
Product charge - with our Healthy Living Discount you could pay no product charge at all. Otherwise, it’s tiered, starting from 0.5%p.a - the more you invest, the lower the charge rate you pay*.
Fund charge - for the ongoing management of the funds you choose.
For more details please read:
VitalityInvest ISA Plan Summary
Terms and Conditions
Did you know?3
is invested in Stocks and Shares ISAs every year in the UK3
of UK adults have savings or investments3
ISA accounts were opened in the UK in the 2017-18 tax year3
A few things to consider before you startIf you’re opening a VitalityInvest ISA without taking financial advice, please remember that:
- Returns on your investment aren’t guaranteed
- A Stocks and Shares ISA is a long-term investment: at least five years
- To open an ISA you must be at least 18 years old and a UK resident, as defined by Her Majesty’s Revenue & Customs (HMRC)
- You’ll be opening and managing your ISA online
- The value of your ISA may go down as well as up and you may get back less than you invest
Stocks and Shares ISA FAQs
Do you pay tax on a Stocks and Shares ISA?
Can you withdraw money from a Stocks and Shares ISA?
Can I open a Cash ISA and a Stocks and Shares ISA in the same year?
Can I change the funds in my ISA?
Why might a Stocks and Shares ISA be better than a Cash ISA?
Who can open a Stocks and Shares ISA?
• Resident in the UK. Or, if you don’t live in the UK, you must be a Crown servant (for example diplomatic or overseas civil service) or their spouse or civil partner
• Age 18 or over
You can’t hold an ISA with, or on behalf of another adult. But you can open a Junior ISA (JISA) for a child under 18.
Is there a minimum amount I need to open an ISA with?
How much can I pay into ISAs?
Currently, each tax year you can pay up to £20,000 into ISAs. That’s the ISA allowance set by Her Majesty's Revenue & Customs (HMRC).
What makes a Stocks and Shares ISA tax-efficient?
What if I accidentally pay too much into my ISA?
What's meant by 'flexible ISA'?
How does a Vitality ISA work?
Can I set up an ISA for my child?
• You’re the child’s parent or legal guardian
• The child is under 18
• The child doesn’t have a Child Trust Fund (if they do have a CTF, you can open a Junior ISA provided that you transfer the full CTF)
• Your child is a resident of the UK
Currently, you can pay up to £4,368 into a Junior ISA each tax year, and the child can only access the money when they turn 18.
Find out more about Junior ISAs.
Please note, to open a VitalityInvest Junior ISA, you must be resident in the UK. Or, if you don’t live in the UK, you must be a Crown servant (for example diplomatic or overseas civil service) or their spouse or civil partner.
What happens to my ISA if I move abroad?
If I die, what happens to my ISA?
It’ll stay open until either your executor closes it or the administration of your estate is completed. If neither of these things happens within three years and one day of your death, your ISA provider will close the ISA. There’ll be no income tax or capital gains tax to pay up to that date, but ISA investments will form part of your estate for the purposes of inheritance tax.
For the exact details it’s best to check the terms and conditions of your ISA for details.
1 Investec assets under management at 30 June 2019: £118.9 billion
Vanguard assets under management at 30 June 2019: £4.2 trillion
2 Source: VitalityInvest Retirement Plan VitalityInvest ISA and Junior ISA Fund List October 2018
3 Source: The Investment Association/Mintel October 2017
4 Source: HM Revenue and Customs Individual Savings Account (ISA) Statistics, August 2018