End of tax year

The 2019/20 tax year is coming to an end in April, so it’s the last
chance to fill up any unused ISA allowances before they expire/run out.

Use it or lose it

Your £20,000 ISA allowance for this tax year runs out on 5 April, so you’ll lose any unused allowance you have left.

ISAs are tax-efficient accounts that allow you to invest and make money in the stock market, without paying UK income tax or capital gains tax on any profits made.

If you're investing in a Self-Select Stocks & Shares ISA and don’t want to invest your money straightaway, you can always pay in with cash and invest it when it suits you. Don’t worry – it will only count towards your allowance for this year.

If you need any help for the end of the tax year, you can contact our friendly customer service team on 01296 41 41 41 (8:00am-4:30pm weekdays).

You can still open your ISA for the 2019/20 tax year.

Self-select Stocks & Shares ISA

Gives you complete control over your investments.

Ready-made ISA

Leaves the investment decisions to our experts.

Lifetime ISA

Gets you a 25% government bonus towards buying your first home or for retirement.

Junior ISA

Lets you start saving for your child’s future with a dedicated account for under-18s.

Topping up your ISA

Paying into your ISA

Whilst the £20,000 annual limit can be used across different ISAs, some of the accounts also have their own limits for how much can be paid in each year

  • Lifetime ISA - £4,000
  • Junior ISA - £4,368
  • Existing Child Trust Fund - £4,368

Paying in

You can pay into your ISA using your preferred payment method as usual. Due to the developing situation with the coronavirus, we are recommending customers to make payments into their ISA by debit card or bank transfer instead of cheque.

There are varying deadlines for different payment methods:

Debit cards – You can pay over the phone using a debit card until 4:30pm on Friday 3 April or online until 6:00pm, Sunday 5 April.

BACS – To transfer directly to The Share Centre using BACS, you must instruct your bank to move funds by 6:00pm, Tuesday 31 March 2020. Funds must be received by The Share Centre with a customer reference number by 12:00pm, Thursday 2 April 2020.

Faster Payment – To complete a Faster Payment transfer, you must instruct your bank to move funds by 6:00pm, Thursday 2 April 2020. Funds must be received by The Share Centre with a customer reference number by 12:00pm, Friday 3 April 2020.

Adding shares to your ISA

To add existing shares (from an investment account you hold with us) to your ISA, please give us a call on 01296 414243. For further information about the process (including transferring in from another provider), please see our Bed and ISA page.

As transfers can take 3-5 working days/ some time, there are deadlines for when you can make your last transactions in your ISA.

Cut off times for adding shares to your ISA from another account

  • Adding shares to your ISA – 2:00pm, Friday 3 April 2020
  • Adding funds to your ISA – 10:00am, Friday 27 March 2020. Results will be published Monday 30 March 2020.

If you hold the shares elsewhere, we would need to process a transfer in which will take a little longer and you can find out more about that process here or by calling us on 01296 414141.

Adding certificates to your ISA

You can add existing share certificates to your ISA by completing this form. As you need to enclose the share certificates, we recommend you send them into us by recorded delivery. For further information about the process, please check our Bed and ISA page.

As transfers can take 3-5 working days, there are deadlines for when you can make your last transactions in your ISA:

Cut off dates for adding share certificates to your ISA

  • Adding share certificates to your ISA – 2:00pm, Friday 3 April 2020.
  • Adding Sharesave Scheme certificates to your ISA – 2:00pm, Thursday 2 April 2020.

Please note: Sharesave Scheme certificates must be submitted with all evidence, including an allocation letter if you are utilising shares from your scheme.

The Frequent Dealing Option cannot be used for the sale of share certificates when adding share certificates to your ISA.

Frequently asked questions

What is the annual ISA allowance?

Unused ISA allowance doesn’t roll over to the next year, so use it or lose it! There are two approaches:

1. All in one

Invest (up to) your ISA limit 2019/20 in one type of ISA, for example one of our Stocks & Shares ISAs.

2. Mix it up

Split your 2019/20 ISA allowance across different types of ISA, however you choose. The maximum you can currently pay into a Lifetime ISA each year is £4,000.

Can I open an ISA if I already have a Lifetime ISA?

You can open and subscribe to any combination of ISAs.

This includes Cash, Stocks & Shares ISAs and Innovative Finance, together with a Lifetime ISA providing that you do not exceed the Lifetime ISA annual allowance of £4,000 or the overall ISA allowance (£20,000 in 2019/20 and 2020/21).  Please also bear in mind that you can only subscribe to one ISA of each type per tax year. For example you cannot pay into two different Cash ISAs in the same tax year.

How do I transfer my ISA to The Share Centre?

You can transfer a previous year's ISA without it counting towards your ISA allowance for the current tax year.

If you transfer a previous year's ISA into a Lifetime ISA, it will count towards your Lifetime ISA allowance for the current tax year. This will be considered a qualifying payment and will be eligible to receive the government bonus.

We do not accept Lifetime ISA to Lifetime ISA transfer ins.

You will still be able to pay in up to £20,000 to any combination of other ISAs during the tax year.

To transfer your ISA to The Share Centre, all you need to do is print and complete our ISA Transfer form and send it to us. We’ll take care of the rest.

Can I transfer existing shares into an ISA?

Yes, you can transfer existing shares into an ISA. Please view our Bed and ISA page to learn more.

Who can open a Junior ISA?

You must be the child's parent or legal guardian to open a Junior ISA for them, however anyone can pay in money.

You cannot open a Junior ISA if your child already has a Child Trust Fund, but you can request a transfer.

What is a ‘flexible allowance’?

  • Replace withdrawn money

Whether it’s for an emergency roof repair or a much needed holiday, we all need to get our hands on some cash every now and then. Our flexible ISAs (excl. Lifetime ISAs) enable you to withdraw cash and then replace it in the same tax year, without affecting your ISA allowance.

  • Switch to a different ISA

If you withdraw cash from an old ISA with us, the money can only be paid back into that account (you won’t have to complete a new application to do so). However, if you withdraw cash from a flexible ISA that you have paid in during the current tax year, you can pay it back in (as subscription) to any type of ISA, including your Stocks & Shares ISA with us.

  • How it works

Your ISA allowance for the current tax year is £20,000. If, for example, you pay £15,000 into a flexible Stocks & Shares ISA with us and then withdraw £4,000, you will still be able to pay £9,000 back into the account (or split your remaining allowance between any other type of ISA) within this tax year. Just remember that you can only use your ISA allowance in one of each type of ISA every tax year. We’re confident we’ve got the best flexible ISA for you.

What is a Child Trust Fund?

A Child Trust Fund (CTF) was a government scheme set up for children born between September 2002 and January 2011. It has now been superseded by the Junior ISAs and can no longer be purchased.