The challenging times we’re all experiencing means we’re getting a lot more calls than usual and our call times are longer. So we can support people in the most vulnerable situations, we ask that you only call us if your enquiry is urgent. You can still use our online and mobile banking services and our automated service.

 

Managing your ISA

Frequently asked questions about our Share Dealing ISA, including information you need to know at tax year end.

  • 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 Stocks and Shares 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 Stocks and Shares 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 Stocks and Shares ISA or Investment ISA for the tax year.

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  • 2.
    Moving money or stock between accounts

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

    HMRC does not allow transfers of stock from a Share Dealing Account into a Stocks and Shares 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.

    You can do this online or over the phone however, we recommend using our telephone service as if the sale is done online, we can’t transfer the money to your ISA for 2 working days (and the price of your investment could move in this time).

    To complete a sale and repurchase 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.

    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 Stocks and Shares ISA

    If you want to transfer cash into your Stocks and Shares ISA, you can contact us by web chat or over the phone.

    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 Stocks and Shares 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.

    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 – 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.

    If your shares have not come from an approved scheme then you can deposit the certificate into your Share Dealing Account and then complete a sale and repurchase.

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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, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Important share dealing information