Managing your ISA

If you have any questions about investing in an ISA, we can help.

Please remember that the value of investments and the income from them, can fall as well as rise and you may get back less than you invest. If you’re not sure about investing, seek independent advice. There will normally be a charge for that advice. Tax treatment depends on individual circumstances and may be subject to change in the future.

1.  Tax years and ISA limits

ISAs, or Individual Savings Accounts, are tax-efficient products where you can save or invest up a specific limit in each tax year. The tax year runs from 6th April to 5th April each year – the ISA limit for the current tax year is £20,000.

Splitting your ISA allowance

You can invest your full allowance into a Share Dealing ISA (which includes our Investment ISA), a Cash ISA, or an Innovative Finance ISA, or you can split your allowance between any combination of the three.

You can also choose to invest up to £4,000 in a Lifetime ISA and then you use the remaining allowance between any combination of the other three types of ISA, as long as you don’t exceed £20,000 in total across your ISAs.

For example, if you invest £12,000 into your Share Dealing ISA (or Investment ISA for ready-made investments), you must save no more than £4,000 in your Lifetime ISA and £4,000 within a cash ISA and/or an innovative finance ISA.

ISA declarations

When you apply for an ISA, HMRC require that a declaration is made to ensure you understand the ISA rules. This is also required if you haven’t paid any money into your ISA in the previous tax year.

Do I need to open an ISA every year?

No, if you already have an ISA, you do not need to open a new account. To use your ISA in the new tax year, you can simply add money to your existing account. You can only subscribe into one Share Dealing ISA or Investment ISA for the tax year.

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2.  Moving money or stock between your accounts

Moving stock from your Lloyds Bank Share Dealing Account into a Lloyds Bank Share Dealing ISA

HMRC does not allow transfers of stock from a Share Dealing Account into a Share Dealing ISA.

If you want to move stock to your ISA then you will need to sell it first and the re-purchase it once the money has been transferred across. This is commonly known as a Bed and ISA.

To request a sale and re-purchase online you can complete the form by logging on to your account. Once logged on, simply click on ‘Help and Guidance’ in the right hand menu, then ’frequent questions’, ’useful forms’ and then select the ISA sale and re-purchase form.

To complete a sale and re-purchase by phone, please call us on 0345 606 0560 (calls will be monitored and recorded, and call costs may vary depending on your service provider).

  • Step 1 – Sell the value of shares you want to transfer across.
  • Step 2 – We will automatically transfer the money into your ISA.
  • Step 3 – You can then invest the money into any ISA eligible stock.

As telephone dealing commission charges are £35 per trade, we don’t charge commission for your re-purchase. Please note that any sale could trigger an event for Capital Gains Tax purposes.

Moving cash from your Lloyds Bank Share Dealing Account into your Lloyds Bank Share Dealing 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. Complete the form.

The cash must be showing in your ‘Available to withdraw’ balance before it can be transferred to your ISA.

Log on

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3.  Adding an ISA to your existing account

If you have a Share Dealing Account

You can add an ISA by logging on and select ‘Open a new account’ in the right-hand menu.

Log on

If you have a Ready-Made Investment

You can hold an Investment Account and Investment ISA at the same time. Read more about our Investment ISA.

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4.  Transferring money or stock from another ISA

If you have a Share Dealing ISA

To start a transfer, simply log on and select ‘Transfers’ in the right-hand menu. When you have completed the transfer form, print and sign it, and then post it to the address provided.

We don’t charge transfer fees however your current broker may charge you to transfer out.

If you do not have access to a printer then you can select an option for us to post the completed form to you so that you can sign and return it.

Transfers will take 2 to 3 weeks to transfer cash or UK shares, and 6 to 8 weeks for funds or international listings. Transfers from a Lifetime ISA or Innovative Finance ISA usually take 30 calendar days.

Log on

If you have a Ready-Made Investment

To start a transfer, access your account through the tile on Internet Banking and select ‘Transfers’ from the right-hand menu. Our Ready-Made Investment accounts can only accept cash transfers so any stock will need to be sold before you can transfer to us.

Transfers will take 2 to 3 weeks to transfer cash and transfers from a Lifetime ISA or Innovative Finance ISA usually take 30 calendar days.

Log on to Internet Banking

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5.  ISAs and share certificates

HMRC does not allow share certificates to be transferred into your ISA unless they have come from an approved HMRC share scheme. Complete a transfer form (PDF, 65KB).

If your shares have not come from an approved scheme then you can deposit the share certificate into a Lloyds Bank Share Dealing Account and then complete a sale and re-purchase.

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 Share Dealing ISA, along with proof that the shares have been exercised (or withdrawn from a SIP) in the last 90 days. This is known as a Letter of Appropriation and can be obtained from your share scheme administrator.

  • Step 1 – If you want to deposit a share certificate then you need download and print a Transfer Form (PDF, 60 KB) and a separate Crest Transfer Form (PDF, 136 KB) for each stock you're depositing.
  • Step 2 – Once completed, attach the relevant share certificates and return to the address provided on the transfer forms. Your certificates will be deposited into your account in 5 working days.
  • Step 3 – Complete a sale and re-purchase.

Please note that we are unable to accept Irish certificates. For further assistance, please contact the company registrar directly.

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6.  ISA transfers between individuals

Investments cannot be transferred between the ISAs of two different people. However, where an ISA holder died on, or after, 3rd December 2014, their surviving spouse or civil partner can inherit their ISA tax benefits. You can find more information in Bereavement support.

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Important legal information

The Lloyds Bank Direct Investments 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.

Important share dealing information