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May 2020

How Do I Buy a Stocks and Shares ISA?

How Do I Buy a Stocks and Shares ISA?

The tax free allowance for your 2020/21 ISA is £20,000. You want to invest in a stocks and shares ISA. So how do you go about it?

Wondering how to buy a stocks and shares ISA? 

With the deadline quickly approaching, if you want to open an Investment ISA now is the time to act. Your £20,000 tax-free ISA allowance for this year is very much a 'use it or lose it' situation - so if you want to maximise your money for this tax year, you should be looking to open an ISA in the next week. 

Lucky for you, we've broken down a step-by-step guide to buying a Stocks and Shares ISA. 

Step One: Pick a Platform

In order to open a stocks and shares ISA, you’ll need to choose a platform to do this with. Examples of providers which offer competitive Stocks and Share ISA deals are:

Step Two: Give your Details

In order to set up a Stocks and Shares ISA, you’ll need to give your ISA provider some of your personal details to verify who you are. This will vary between providers, but likely details you’ll need to provide are:

  • Proof of ID
  • Proof of address
  • Nationality
  • Date of birth
  • Contact number
  • National insurance number

Step Three: Account Set Up

This is where you need to sit down and look at what you want your money to do: do you want to put all your money in one lump sum? It might be the case that since it’s so close to the ISA deadline, you don’t have any other option. But if you’ve more time, e.g. you’re reading this blog at the beginning of tax year 2020/2021, then you need to consider if you want your money to be invested month-by-month.

Or – you could do both, if that suits your needs!

This is the stage where you’ll set up your payment details and the provider will verify your details. All being in order, your account will bet set up – make sure you take a note of your login details!

Step Four: Pick your Investment Funds

This is where you’ll set up your investments – or choose a fund manager who will do this for you. You can choose what type of investments you want to put your money behind (e.g. you can choose ethical or climate crisis ISAs).

Step Five: Fine-tune your Account

This is the final step of the process – you can finalise your settings, details and preferences. Our top tip is to set up fund alerts, this way you’ll be kept up-to-date with what’s going on with your account and funds you may be interested in.

Read more about Stocks and Shares ISAs.

Investment Fund Supermarket ISAs

Stocks & Shares ISA

from Fidelity

ISA Option
Allows ISA Transfers
Regular Savings
  • Protection Scheme: FSCS
  • Fund Choice: Choose from over 4,000 investment options, including one of the widest fund ranges in the UK, plus shares, investment trusts and exchange-traded funds. There’s also expert guidance to help with your investment decisions, which includes a selection of tools and insights from Fidelity’s experts. Capital at risk. Tax and ISA rules apply.
  • Invest From: £25 through regular savings or £1,000 lump sum

Why we like it: Fidelity has lots of investment options, plus an extensive range of guidance tools to help you decide what to invest in. Their award-winning ISA is easy to start and offers great value, their a typical service fee of just 0.35%. Other ongoing charges apply. On top of that, everything is backed by Fidelity’s 50 years of investment experience.

Important: The value of investments can go down as well as up so you may get back less than you invest. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.

Tax treatment depends on individual circumstances and all tax rules may change in the future.

Stocks & Shares ISA

from Hargreaves Lansdown

ISA Option
Allows ISA Transfers
Regular Savings
  • Protection Scheme: FSCS
  • Fund Choice: Choose from over 2,500 funds, shares, investment trusts and more to build your portfolio. UK and overseas shares. Corporate and government bonds. Exchange Traded Funds (ETFs). Ready-made portfolios to suit your goals and attitude to risk from £1,000. Expert research to help make your decisions. Investment trusts and much more. Capital at risk.Tax & ISA rules apply
  • Invest From: £25 pm or from £100 lump sum

Why we like it: Choose your own funds or alternatively a ready made portfolio. Market-beating savings and discounts of up to 5.5%. No charge to buy and sell funds. Low, tiered annual charges for holding funds, with a maximum of just 0.45% per annum. Free fund updates and analysis from experienced research team. Invest with a financially secure, FTSE 100 company.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Stocks & Shares ISA

from Interactive Investor

ISA Option
Allows ISA Transfers
Regular Savings
  • Protection Scheme: FSCS
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds or select a ready made portfolio. Investment trusts, ETFs, Bonds & Gilts. Option to invest in 6 low cost funds selected by experts to get you started. Capital at risk. Tax & ISA rules apply
  • Invest From: £25 a month or any lump sum

Why we like it: An award-winning ISA that gives you complete control. The second largest platform in the UK with the widest choice of investment options in the market including funds, investment trusts, ETF’s and more. Strong ethical investment proposition with more than 140 investment options. Open online in less than 10 minutes. Access to expert independent ideas and analysis. Low cost fees and trading.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.

High Income ISAs

High income ISA ideas:

ISAs Products

Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

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