Before applying for a Saxo Stocks & Shares ISA account, please familiarise yourself with these documents: General Business Terms, Product Rates and Conditions, Commissions, Charges & Margin Schedule, Order Execution Policy, Conflict of Interest Policy, Stocks & Shares ISA Terms and Conditions, Saxo ISA Key Features and the Supplementary Charging Schedule.
To open an ISA you must:
- Be aged 18 or over at the time of your application; and
- Resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or married to, or in a civil partnership with, a person who performs such duties.
Why choose a Saxo ISA?
Manage all your ISA portfolios from one investment platform and take advantage of the following benefits:
- 24/7 online access to 25 global exchanges plus our award-winning trading technology
- Deal in eligible Shares, ETF's, Investment Trusts and Bonds
- Currency conversion charge of just 0.5%
- Viewing all your ISA investments with one simple log-in
- Fund your ISA account with either new cash, cash from your existing Saxo trading account or transfer from your current ISA provider
- Ability to withdraw cash at any time without being subject to penalty fees
- Zero administration fees
There is no minimum funding amount for Saxo ISA accounts.
Understanding the Tax Benefits
One of the most attractive benefits of an ISA are the tax advantages. Within a Stocks & Shares ISA, investors are exempt from Capital Gains Tax and further tax on income.
The UK tax year ends on 5 April each year. This is the deadline to make a deposit into your Saxo ISA using your annual allowance. Any remaining allowance cannot be carried over to the following year.
Below you can see taxes your investments may be subject to if you don't utilise your ISA allowance:
||Basic rate tax-payer
||Higher rate tax-payer
||Additional rate tax-payer
||Within an ISA
|Capital Gains in excess of
£11,100 annual limit
|Share dividend income
over £5,000 p.a.
ISA Transfer Rules
You can transfer cash ISAs and/or Stocks and Shares ISAs, in full or in part, from previous years into the Saxo ISA.
If you are transferring the current tax year's ISA allowance, you will need to transfer it in full.
We do not charge you to transfer a portfolio to us, but your current provider might.
Transfer your ISA today
It's easy to transfer portfolios from your existing ISA account to Saxo:
- Open a Saxo ISA
- Download the Saxo ISA Transfer Form, and return once completed to our ISA Transfer Team at Saxo Capital Markets UK Ltd., 40 Bank Street, Canary Wharf, E14 5DA
We will contact your existing provider and carry out all the necessary paperwork to transfer your assets as quickly as possible.
Important Documentation - ISA Account
ISA Terms and Conditions
ISA Commissions and Charges Schedule
ISA Key Features
ISA Transfer Form
ISA Account FAQ
What are the ISA Subscription limits?
The ISA subscription limit for 2017/18 is £20,000. The full amount can be invested either in a Stocks & Shares ISA or Cash ISA, or any split in between. It is possible to subscribe the full £20,000 allowance in to a Saxo ISA, which is a Stock & Shares ISA. Saxo does not offer a Cash ISA. It's important to remember that ISA accounts are based on current tax rules which are subject to change.
Who is eligible for a Stocks & Shares ISA?
To be eligible for a Saxo ISA you must be:
1) Over 18
2) Resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or are married to, or in a civil partnership with, a person who performs such duties.
3) Not have subscribed to another Stocks & Shares ISA in the same tax year.
Is there a minimum account size?
There is no minimum account size to open a Saxo ISA.
What investment products are eligible in an ISA?
It is possible to invest in Shares, ETFs, Investment Trusts and Bonds. When logging in to your Saxo ISA all available investment products are ISA eligible. ISA eligibility of individual investments is determined by the requirements prescribed by HMRC and whilst SCML provides access to multiple global exchanges, only ISA eligible shares will be available for trading on the platform.
Can I transfer an existing ISA to my Saxo ISA account?
Yes, it is possible to transfer ISAs from previous tax years and from other providers to your Saxo ISA. Once you have applied for a Saxo ISA simply complete our ISA transfer form and return it to our ISA Transfer Team at Saxo Capital Markets UK Ltd., 40 Bank Street, Canary Wharf, E14 5DA. Please note SCML will not charge a fee to accept your ISA account, however your current provider may levy an exit charge.
Is there an ISA administration fee?
No, Saxo does not charge any administration fees. Please download our Rates & Charges pdf for full details of SCML charges.
ISAs give you the flexibility to withdraw money from the account at any time and Saxo will not charge you to do so. However, please remember that when you withdraw money from your ISA, your annual allowance remains unaffected. This means, for example, that if you reach your annual subscription ISA limit during the current tax year and then make a withdrawal, the money cannot be deposited back in.
Saxo does not offer Flexible ISAs.
Can I transfer my Saxo ISA to another provider and what are the costs?
Yes, you can transfer your Saxo ISA to another provider. We will require a completed Transfer Form from your new provider. There is a transfer out fee of EUR 50 per ISIN, with a maximum charge of EUR 160. View our full ISA Rates & Charges here.
Visit our ISA FAQs page to see the full list of frequently asked questions.
The value of your investments can go down as well as up and you may not get back what you invested. Tax treatment depends on individual circumstances and is subject to change.
Please note, Saxo ISA accounts are maintained separately from other Saxo Capital Markets Trading accounts and for the avoidance of doubt any cash or the value of any stocks held within a Saxo ISA cannot be used as collateral for margin trading. ISA eligibility of individual investments is determined by the requirements prescribed by HMRC and whilst Saxo Capital Markets provides access to multiple global exchanges, only ISA eligible shares will be available for trading on the platform.
The Saxo Capital Markets UK Ltd website provides you with a range of tools and information to help you make informed investment decisions but does not provide investment advice and if you are in any doubt you should seek independent advice.
The Saxo ISA, a Stocks & Shares ISA, is provided by SCML who is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422, with registered address: 26th Floor, 40 Bank Street, Canary Wharf, London E14 5DA and company number 7413871, in their capacity as an ISA Plan Manager no. Z1849.