What is a Stocks and Shares ISA?
ISAs (Individual Savings Accounts) shelter your savings and investments from tax and provide you with an easy way to save for your future. The government offers generous tax breaks to encourage you to save and one of the most popular and accessible ways is through an ISA. This year’s ISA allowance is £20,000.
A Stocks and Shares ISA is not an investment in its own right. The best way to think of a Stocks and Shares ISA is as a ‘wrapper’ in which you can shelter your savings and investments from tax.
Please note that any tax benefits will depend on your personal tax position and rules are subject to change. The value of investments can go up as well as down and you may get back less than you invested.
- 06 Apr 21
If you are already a My WealthPartner Online client, to open an ISA, please complete, sign and scan this document to us at firstname.lastname@example.org from your registered email address. If you do not have access to a printer and/ or scanner, please contact us to discuss how we can accept your instruction.Download
Why choose the Close Stocks and Shares ISA?
Value for money
We offer clear and competitive pricing with no hidden costs or charges.
No annual ISA fee
No charge for transfers*
A competitive platform fee that starts at 0.25% and reduces in tiers to 0% depending on the amount you and your family invest
*The transferring provider may make a charge for transferring investments or cash proceeds to Close Brothers Asset Management.
Invest in a wide choice of investments with our Close Stocks and Shares ISA:
Exchange traded funds (ETFs)
UK stocks and shares
UK Government bonds (gilts)
Our online portal is easy to use and accessible at any time and will allow you to create a more detailed view of your wealth by adding assets or debts not held with us.
Buy, sell and switch investments easily online
You can manage your ISA in the same place as your other investments, giving you a single overview of your portfolio
Choose between saving regularly each month or investing a lump sum
Take advantage of the free access to our expertise and view our in-house research, analysis and insights which are easy-to-understand, whether you are an experienced investor or just getting started.
Our investment team are constantly trading in the markets and managing the portfolios of thousands of investors across the UK.
Our UK-based support team are on hand to help via phone or email. If you have questions about your account, please contact our dedicated My WealthPartner Support Team who are available 8am - 6pm, Monday to Friday, excluding public holidays.
Stocks and Shares ISA charges
|Amount invested with
|My WealthPartner Online charge*||Close Brothers standard charge*|
|£0 - £500,000||0.25%||0.25%|
|£500,001 - £1,000,000||0.175%||0.20%|
|£1,000,001 - £1,500,000||0.05%||0.10%|
|£1,501,000 - £2,000,000||Nil||Nil|
*Custody and administration charge on the amount within the band
Transfer your Stocks and Shares ISA to us
If you would like to transfer previous years’ ISAs, why not register to open a Close Stocks and Shares ISA and benefit from our low cost investment platform. Transferring is easy and our support team are here to help.
Please note, you do not need to sell your holdings in order to transfer them to us.
Once you’ve opened an ISA, you will need to complete an ISA transfer form to initiate a transfer from another provider. This can be found below or in your document library under ‘Important information and forms’ when you log in.
- 01 Feb 21
If you are already a My WealthPartner Online client, to transfer an ISA to us, please complete, sign and scan this document to us at email@example.com from your registered email address. If you do not have access to a printer and/ or scanner, please contact us to discuss how we can accept your instruction.Download
Stocks and Shares ISA FAQs
Frequently asked questions
What about tax?
You pay no capital gains tax, no further tax on any income within a Stocks and Shares ISA, and you don’t need to declare ISAs on your tax return. If used regularly, your annual ISA allowance offers you the chance to create a substantial tax-efficient portfolio. Dividends on shares held within a Stocks and Shares ISA are tax free.
How much can I invest into an ISA?
ISA limits are controlled by the government and any changes are normally announced in the Budget. For the current tax year the allowance is £20,000.
Can I open more than one Stocks and Shares ISA in the same tax year?
You can only open one Cash ISA and one Stocks and Shares ISA per tax year. You can choose different providers for each type of ISA.
Can I open both a Cash ISA and a Stocks and Shares ISA in the same tax year?
The new £20,000 ISA allowance can be used in full in a Cash ISA, in full in a Stocks and Shares ISA, or split between the two.
Who can invest in a Close Stocks and Shares ISA?
You must be over 18 and resident in the UK for tax purposes.
Can I withdraw from my Close Stocks and Shares ISA?
A Stocks and Shares ISA provides accessibility – you can withdraw money from your ISA if your circumstances change, but any investment should be considered a medium to long term commitment, generally of five years or more. Please note this is not a flexible ISA. Withdrawals may not be able to be replaced and will count towards your allowance.
How can I monitor the performance of the investments in my Close Stocks and Shares ISA?
The Close Brothers portal allows you to view and manage your Close Stocks and Shares ISA at any time. We provide six monthly valuation statements online so you can view the performance of your ISA as well as any other products you hold on the platform.
Can I make regular payments to my Close Stocks and Shares ISA?
You can set up regular monthly payments by Direct Debit for £50 or more. The Close Portal allows you to choose where you want your monthly payment to be invested. There is no minimum lump sum.
Are there any risks?
As returns are mainly dependent on stock market performance, investing in a Close Stocks and Shares ISA carries risk. There is no guarantee that the value of your investment will rise, it could fall and you may get back less than you originally invested.
Also, an individual’s tax treatment depends on their own circumstances and is subject to change, which could reduce any benefits gained in the future. Please note this is not a flexible ISA and any withdrawals may not be able to be replaced and will count towards your allowance.
Is there a limit to the amount I can deposit online?
For debit card payments, there is a single transaction limit of £99,999 as part of the system fraud prevention measures. If you experience any issues with your payment, please contact the support team on 0800 028 8960.