Compare Sun Life ISAs

Sun Life ISA

Sun Life currently offer a Stocks & Shares ISA, however before you take out any kind of ISA, it is a good idea to shop around providers to try and find the product that fits your needs best, so you can try to get the most out of your annual allowance. You can use the comparison table above to compare different kinds of ISAs from a selection of providers which might help you decide which is best for you:

1. Sun Life My Smarter ISA – options to invest one off deposit of £100 or more; make monthly deposits of £10 or more or a combination of both. Money invested into Scottish Friendly’s With-Profits Fund.

ISA Guide

In order to be eligible for a UK ISA you need to be:

1. Aged 16 or over for a cash ISA.
2. Aged 18 or over for a stocks and shares ISA.
3. A resident of the United Kingdom.
4. If you don’t live in the UK then you need to be a Crown Servant or their spouse/civil partner.
5. You can open a Junior ISA for someone under 18 who you have parental responsibility for.

There are two types of Individual Savings Account: Cash ISAs and Stocks & Shares ISAs. ISA rules set an allowance which is the maximum amount a saver may pay into an ISA in a tax year; you are allowed to open a maximum of one of each type of ISA each tax year. However if you do opt to open both kinds then you will have to break up your ISA allowance between the two accounts so you do not exceed it.

1. Cash ISAs – Are a kind of savings account, however the interest that accumulates on your savings is paid tax-free up to the maximum allowance. There are a variety of different kinds of Cash ISA plan available such as; Fixed Rate, Notice and Instant Access depending how easily you would like to be able to access your savings during the ISA’s term should you need to.

1. Stocks & Shares ISA – Are a kind of tax-efficient investment account you can use to put money into various products such as; bonds and gilts as well as stocks and shares. Some of these kinds of ISA are known as self-select plans which allow you to directly pick which stocks and shares you invest in, others put your money into a managed fund, some providers may offer a choice of managed funds. Up to your maximum allowance you do not have to pay any Capital Gains Tax or Income Tax on profits made from value increases of your investments, you do however have to pay tax on dividends.

ISA Transfers:

It is possible to transfer an ISA to a different product, either with the same or a different provider. Some accounts may impose a interest penalty for doing so. This means that while it can sometimes be beneficial to move, before transferring you should first check to make sure that any penalty you may incur would not negate the potential benefit of moving.