Stocks & Shares ISA top FAQs answered
We’ve answered the top Stocks & Shares ISA FAQs from new customers to help you get started on your Moneybox investing journey.
What is my annual ISA allowance?
Every tax year, you get an ISA allowance of £20,000 to invest in a Stocks & Shares ISA. This £20,000 is shared between your different ISA accounts – which applies to you if you have a Cash ISA or a Lifetime ISA.
If you haven’t already, check out a Cash ISA or a Lifetime ISA.
- A Cash ISA is a savings account and the interest you earn is completely tax-free.
- A Lifetime ISA is designed to help you buy your first home faster or save for retirement. You get a 25% bonus on everything you put in – so if you’re saving without a Lifetime ISA, you’re missing out on free money.
Be aware that different ISA types have different annual deposit limits. Here’s a breakdown.
For example, if you max out your Lifetime ISA with £4,000 in a tax year, you’d have £16,000 remaining to split between your other ISAs. You could put £10,000 of that into a Cash ISA, and £6,000 into a Stocks & Shares ISA.
If you pay the full £20,000 ISA allowance into your Stocks & Shares ISA, you’ll have no annual allowance remaining for your Cash ISA or Lifetime ISA until it resets next tax year.
What can I invest in?
You’ll have picked a Starting Option when you opened your account, which spreads your money across different funds. But you can customise this at any time to access even more investment choices with our full fund range and US stocks.
- Funds let you invest in a group of different financial assets like stocks and bonds without having to buy them directly.
- Stocks let you invest in your favourite companies directly. You might want to invest in stocks alongside your fund investments.
Can I transfer an ISA in from elsewhere?
Yes you can! The best part is that you can transfer an ISA into Moneybox entirely in-app, with no paper forms. It only takes a few minutes to request a transfer form. Go to Settings > Transfer > Transfer in to start an ISA transfer.
How did you design the Starting Options?
Our Starting Options were designed by experts to give you a different level of return in line with how comfortable you are with accepting risk. For more information on a specific fund, check out the fund’s Key Investor Information Document (KIID) in-app.
If you want more investing content, check out our Investing Academy. It’s a step-by-step guide to help build your confidence and set you up for success on your investing journey.
All investing should be long term (min. 5 years). The value of your investments can go up and down, and you may get back less than you invest.