What is an ISA?
ISA stands for Individual Savings Account. It is a government scheme to encourage saving/investment in the UK. The ISA is not an investment. It is a wrapper around qualifying investments.
What are the benefits of the ISA wrapper?
Income received within an ISA wrapper is not subject to UK income tax. Capital gains tax is not chargeable on any capital gains.
What is an Innovative Finance ISA (IFISA)?
The Innovative Finance ISA (IFISA) allows individuals to use their annual ISA allowance to lend funds through alternative finance products.
IFISA can be held alongside cash and stocks & shares ISAs to give investors more diversity and choice as to what to do with their ISA investments.
How do I set up a Housemartin ISA?
To set up your ISA go to Manage Funds in the top navigation bar and select Open ISA. Your name, date of birth and address will be pre-filled. You will need to enter your National Insurance number and agree to the ISA declaration and terms & conditions.. Your ISA will be open shortly after.
How do I cancel my ISA?
You have up to 14 days to cancel your ISA. If you wish to cancel please email support@housemartin.co.
How do I transfer an existing ISA to Housemartin?
To transfer in an existing ISA, click the Manage Funds link in the top navigation bar and then click ISA Transfer to begin your transfer.
How do I add money into my ISA?
You can deposit money into your ISA in three ways:
- You can deposit directly by making an online bank transfer. To find instructions click Manage Funds in the top navigation bar and then select Deposit. Please make sure you use the Payment Reference for your ISA account and not your Regular account Payment Reference.
- You can transfer uninvested cash from your Regular account to your ISA account by clicking the Manage Funds link in the top navigation bar and selecting Transfer Cash between accounts.
- You can transfer money in from an existing ISA with another provider. See How do I transfer in an existing ISA to Housemartin?
How do I invest with my ISA?
Investing is the same process for both Regular and ISA accounts, as described in the Investing section. Simply select your ISA account from the dropdown on the Buy modal when investing.
Does Housemartin’s ISA qualify as flexible?
Yes. This means that if you make a withdrawal from your ISA, you can put it back into the same account in the same tax year without affecting your allowance.