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21st
May 2020
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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

Allows ISA Transfers
  • Protection Scheme: FSCS
  • Fund Choice: 2,000+ Funds
  • Invest From: £50pm

Why we like it: Invest from as little as £50 a month or with a £1,000 lump sum. Investment choice from over 100 fund providers, giving you access to 2,000+ funds. One low-cost service fee of 0.35%*. Great service – from investment guidance on website through to UK-based phones team. PathFinder, Select 50, Investment Finder - investing tools for beginners to advanced investors. 24/7 access via online Account Management system.

* depending on how much you have invested

Important: Please remember the value of your investment and any income from it may fall as well as rise and is not guaranteed. You may get back less than you invest.

Vantage Stocks & Shares ISA

from Hargreaves Lansdown

Allows ISA Transfers
  • Protection Scheme: FSCS
  • Fund Choice: 2,500+ Funds
  • Invest From: £25 pm

Why we like it: Shelter up to £20,000 this tax year with the low cost, award-winning ISA. The UK's number 1 platform for private investors. 

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.

Interative Investor Stocks & Shares ISA

from Interactive Investor

Allows ISA Transfers
  • Protection Scheme: FSCS
  • Fund Choice: 40,000+ UK and global investments
  • Invest From: £25 pm or £100 single

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. 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

Investment ISA Pros and Cons

7th August 2020

The tax-free returns offered by an Investment ISA (otherwise known as a Stocks and Shares ISA) can be very tempting at first glance - however, as with any investment, it is important to weigh up the pros and cons. So we've put together a list of what you need to consider before opening your own Stocks and Shares ISA account. 

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