ISA frequently asked questions

Yes. You must be

• an individual
• aged 18 or over
• resident and ordinarily resident in the United Kingdom, or if not, be performing duties as a Crown employee serving overseas and paid out of the public revenue of the United Kingdom (typically a serving member of the armed forces or a diplomat) or be married to, or in a civil partnership with such a person.

Firstly it is important that you read the key features and the terms and conditions of the Sippdeal ISA.

You can only apply for a Sippdeal ISA online.

The Sippdeal ISA offers an enormous range of investment opportunities, including a huge range of funds.

No. A Sippdeal ISA must be held in a single name.

No. You must be over 18 to hold a Sippdeal ISA.

Sippdeal does offer a Junior ISA which can be opened by anyone with parental responsibility for an eligible child. For more information read our Junior ISA FAQs.

Only one ISA may be opened per tax year.

No. A Sippdeal ISA may not be opened in the name of a trust.

No. A Sippdeal ISA may not be opened in the name of an investment club.

The minimum lump sum investment needed to open a Sippdeal ISA is £500.

There is no minimum for a regular monthly investment made by Direct Debit.

To buy or sell investments in your Sippdeal ISA, you need to login to your account. From your ‘My accounts’ page, select ‘Deal’ and this will access the Sippdeal dealing site where you can choose to buy or sell investments within your ISA portfolio.

Alternatively you can buy or sell your investments over the phone by calling Dealing services on 0845 373 3479.

The online dealing charge is determined by the number of deals you placed in the previous calendar month across your SIPP, ISA and Dealing Account (excluding any regular investment deals).

Sippdeal charges £4.95 per online deal to either buy or sell investments when 20 deals or more were placed in the previous month and £9.95 per online deal when less than 20 deals were placed. For example, the dealing charge you pay in December will depend on the number of deals you made in November.

Telephone dealing is £29.95 per deal.

See all the charges and rates associated with a Sippdeal ISA.

Please note that Stamp duty of 0.5% applies on all purchases (not sales) of UK quoted shares (1% for shares quoted on the Irish Stock Exchange). Stamp duty is payable on certain securities issued by UK incorporated companies where these securities are traded as CREST Depositary Interests. There is no stamp duty on purchases (or sales) of unit trusts, open ended investment companies (OEICs), exchange traded funds (ETFs), warrants and government stock.

The annual ISA allowance is £11,280 in the 2012/13 tax year.

No. Sippdeal doesn’t offer a cash ISA.

Yes. You can split your ISA allowance between an ISA (stocks & shares ISA) and a cash ISA. The maximum that you can invest into a cash ISA this tax year is £5,640 but if you do this you can then invest a maximum of £5,640 in your ISA.

Please note that Sippdeal doesn’t offer a cash ISA.

Yes. For lump sum investments, you need to open your Sippdeal ISA with at least £500.

You can then top up your ISA with lump sum payments of any amount of £500 or more or through regular payments (of whatever you like) until your full ISA allowance is used for the tax year (£11,280 for 2012/13).

There are various ways that you can pay money into your Sippdeal ISA. You can use

• debit card
• Direct Debit or
• cheque.

To pay money in, you need to login to your ISA and from your ‘My accounts’ page, select ‘Manage my account’ and then use the payment method of your choice.

Dealing charges will be included in the contract total when you make a deal. To place a deal, you must have enough ‘Available cash’ in your Sippdeal ISA to cover all the costs associated with that deal.

Equity deals are processed immediately. Unit trust and OEIC deals are processed daily depending on the dealing cut off time for the fund (this varies from fund to fund). Orders received after the dealing cut off time will be executed at the next valuation dealing point, which is usually the following business day.

You can reinvest proceeds of equity sales immediately after they have been processed; proceeds of unit trust and OEIC sales can be invested as soon as a contract note is confirmed on your account, this is normally the day following the sale transaction is placed. Check your “Available cash” for your maximum dealing limit.

No. We don’t charge an annual management fee for having a Sippdeal ISA.

Any dividends that you may receive from your investments will be paid into the cash account of your Sippdeal ISA. You are then free to choose what to do with the dividend payment. You may leave in your cash account, reinvest it or withdraw it from your ISA and have it paid into your nominated bank or building society account.

Yes you can.

You can set up a monthly Direct Debit which means that money will be withdrawn from your bank account and paid into your Sippdeal ISA cash account on the same day each month. You can then invest these monies as you wish.

To set up a Direct Debit you need to login to your ISA account, select ‘Manage my account’ from your ‘My accounts’ page and then select ‘Make a regular payment’ and follow the online process.

Yes you can.

Our regular investment service allows you to invest every month in a wide range of
investment opportunities, including the FTSE 350, over 2,000 funds in the Sippdeal funds list and selected investment trusts, ETFs and ETCs.

Setting up a regular investment is simple and once we have received your instruction, we will automatically make your deals on the 10^th calendar day of each month (or the next working day).

Obviously for us to make your deals, there must be sufficient money in your cash account to pay for them. If there isn’t, we won’t make your deals on that given month and will try again the next month.

You are also able to amend your regular investment instructions up until midnight on the 9^th calendar day of each month (or midnight on the day before the regular investment dealing day).

The current rates of interest paid can be seen using this link.

HMRC regulations do not set a timescale. However, they do stipulate that you must hold the cash in the account with the intention to invest at some point in the future.

Yes. You can transfer existing ISA investments held with another provider into a Sippdeal ISA.

To do this, you will need to complete the transfer form and send it to us.

If the investment you want to transfer in is held in stock then it must be within our current investment range.

Please read the key features and terms and conditions first.

No. If you are transferring ISAs from previous tax years this has no impact on your ISA allowance for the current tax year. A transfer does not count as a new subscription.

No you can’t.

We will provide you with an annual statement for your ISA. We will send you a secure message informing you that your statement is available to view and download from your document store. Your document store is within the administration section of the dealing site.

You can withdraw cash from the cash account of your Sippdeal ISA and have it paid into the bank or building society account you have nominated with us. You can do this by logging into your ISA and selecting ‘Manage my ISA’. You can then use the ‘Withdraw cash’ facility to withdraw cash to your nominated account.

Please also note that once money has been withdrawn from an ISA you will only be able to pay it back in if you have not paid to a different stocks and shares ISA in that tax year, and you will be subject to the annual subscription limits.

Yes. Our regular withdrawal facility allows you to withdraw an amount of money on a regular basis (e.g. monthly, quarterly, half yearly and annually). You can do this by completing our ISA cash withdrawal form and returning it to Sippdeal.

Yes you can.

You can move cash held in the cash account of your Sippdeal ISA into the cash accounts of either a Sippdeal Dealing Account or a Sippdeal SIPP.

You can transfer the value of your Sippdeal ISA to another ISA provider at anytime.

If you would like to arrange a transfer out then please telephone Sippdeal on 0845 54 32 600.

The transfer can be in cash, in which case you will have to sell all the investments held in your Sippdeal ISA before the transfer is completed, or you can make the transfer using stocks.

If you decide to transfer out the full value of the investments in your ISA then we will treat this as an account closure. If at a later date you would again like to invest in a Sippdeal ISA, then you will need to complete a new application online.

Please be aware that if you instruct us to withdraw stock then this stock will lose its tax wrapper status.

The costs associated with setting up and managing a Sippdeal ISA are listed in the
charges are rates.

These are the Sippdeal ISA terms and conditions.

You have a legal right to cancel a subscription to your Sippdeal ISA, if you change your mind. If you wish to cancel you must do so within 30 days of the date you receive our letter confirming the subscription to your Sippdeal ISA.

You may exercise your right to cancel by writing to us at

Fax: 0845 54 32 601

Email: enquiry@sippdeal.co.uk

quoting your name and Sippdeal ISA reference number.

If you wish to make an investment during the 30 day cancellation period and exercise your cancellation rights, you may get back less than you invested. You will only receive your subscription less any investment losses.

Further information about your cancellation rights is included in the Sippdeal ISA
terms and conditions.

Yes. The Financial Services Compensation Scheme (FSCS) has been set up to deal with compensation, if firms are unable to meet claims made against them.

For bank deposits the maximum claim that could be made by your ISA is £85,000.

Further information about the compensation arrangements is available from the Financial Services Compensation Scheme at  www.fscs.org.uk.

No, Sippdeal, A J Bell Management Limited, A J Bell Securities Limited and Sippdeal Trustees Limited are not authorised to provide any advice on tax or financial services related matters.

If you need any advice then you must contact a suitably qualified financial adviser. Your adviser will give you details about the cost of advice.

Our 'Can we help?' page gives you all the details of how to contact us by email, phone or post.

Customer satisfaction is very important to us and if you do have any cause to complain about the services provided there are clear procedures laid down by the Financial Services Authority to ensure that your complaint is dealt with fairly. Please contact us in the first instance at

Tel: 0845 54 32 600
Fax: 0845 54 32 601
Email: enquiry@sippdeal.co.uk

If you are not satisfied with our response, you may refer your complaint to

Tel: 0845 080 1800

Making a complaint will not affect your right to take legal proceedings.

A J Bell Securities Limited is the plan manager of the Sippdeal ISA and is responsible for the day to day administration and management of your account.

A J Bell Securities Limited is part of A J Bell, one of the largest providers of low cost, online investment platforms and stockbroker services in the UK, with assets under administration exceeding £15 billion and more than 59,000 clients.

A J Bell Securities Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.

To change your address, you need to login to your Sippdeal ISA account and from your account summary page, select ‘Update my personal details’ and on this page you will be able to change your address.

To change your content details, you need to login to your Sippdeal ISA account and from your account summary page, select ‘Update my personal details’ and on this page you will be able to change your content details.