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Nov 2020

Can I Get and ISA with My Partner?

Can I Get and ISA with My Partner?

Lots of couples choose to consolidate their finances into one shared account which they can easily access and both keep track of. But how does this work in an ISA type? We’ve got all you need to know, so you and your partner can make informed, strong financial decisions. 

It doesn’t sound very romantic – but the combining of finances is an important part of relationships and is often one of the Big Discussions a couple has while moving forward.

So how do ISAs factor in?

One of the most common questions according to our research is whether or not you can get a joint ISA with your partner – so we’ve decided to answer it for you.

Can I open a joint ISA?

The short answer is no.

ISAs can only be held in one name – you cannot open a joint ISA or open an ISA in someone else’s name (with the obvious exception of a JISA).

The tax benefits which are available through ISA accounts are only available for individual people

Each individual who is a resident in the UK has a yearly allowance – this year, of £20,000 per tax year – which is non-transferable; you cannot share an allowance or combine allowances.

The only instance in which ISA allowances can be transferred is the instance where a spouse or civil partner has passed away and has left the ISA to their spouse in their will or as part of their estate. But obviously, this is not the ideal situation and would preferably be avoided.

You can open alternative savings accounts as a couple – however, these will not have the tax-free benefits you can expect to enjoy through an ISA.

So, how can we make ISAs work for us as a couple?

There is a bright side to this rule – you can, theoretically, make more savings. If you both put your pennies to work in the right ISAs, and share the profits, you can put your joint finances in a really strong position.

You can also, if you are combining your funds, be flexible with where you keep your funds – by choosing different kinds of ISAs with different kinds of access and benefits, you can maximise your returns.

Lifetime ISAs:

One of the reasons people tend to look to have a joint accounts is to save for a home together. By both of you opening a LISA account, you can both gain the generous bonus offered by LISAs.

As two LISAs can be used to fund a house deposit, you can both maximise your returns in order to boost both your deposit savings – and afterwards, for your deposit.

Instant Access Cash ISA:

By putting some of your pennies into an Instant Access Cash ISA, you can (as the name would suggest) maintain access to your cash. Some ISAs lock your funds away, but by choosing to open an Instant Access Cash ISA in one of your names, then you can know that you have access to funds should a rainy day happen.

Investment ISA:

By holding two (or more) different ISAs you can really easily diversify your investment portfolio, meaning you could have lots of fingers in different pies. This can make your investments a bit more secure theoretically – if all your eggs are in different baskets, then should there be a big issue with one basket, you’ll still have some returns from your other investments to rely on.

Read more about Lifetime ISAs.

Read more about Instant Access Cash ISA.

Read more about Investment 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

Special offer:

Invest and get £25 cashback » 

Build your savings with an ISA and receive £25. Exclusions, T&Cs apply.

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 Hargreaves Lansdown

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

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

Allows ISA Transfers
  • Protection Scheme: FSCS
  • Fund Choice: 40,000+ UK and global investments
  • Invest From: Any Lump Sum or £25 a month

Special Offers:
£100 Cashback if you transfer in any ISA worth more than £20,000
Open an ISA, Trading Account or Sipp and you'll get £100 of free trades to buy or sell any investment (new customers only)
Terms apply

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

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19th January 2021

The tech industry has been booming for the past fifteen years; and it seems to be a rollercoaster that only goes up. The tech bubble has yet to burst, with companies coming out with more and more technological developments and consumer demand is certainly not slowing down. So, for the tech-savvy investor who wants to put their pennies behind this strong growing industry, we’ve put together our top three picks for Technology Stocks and Shares ISAs. 

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