What are the ISA Subscription limits?
The current ISA allowance is £20,000. The full amount can be split across a Stocks & Shares ISA, Cash ISA Lifetime ISA (max. £4,000) and an Innovative Finance ISA. It is possible to subscribe the full £20,000 allowance in to a Saxo ISA, which is a non-flexible Stock & Shares ISA. Saxo does not offer any other 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) Aged 18 or over at the time of your application;
2) Resident in the United Kingdom for tax purposes; and
3) Not have opened and subscribed to more than one Stocks & Shares ISA at a time, unless transferring your ISA account to a new ISA manager.
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?
With Saxo it’s possible to invest in 11,000+ Shares, ETFs, Investment Trusts and Bonds. When logging into your Saxo ISA all visible products are ISA eligible.
The ISA eligibility of individual investments is determined by requirements prescribed by HMRC, and these products constantly change. Please contact us if you would like to know about the status of a specific investment.
Who is the Saxo ISA Manager?
The Saxo ISA, a Stocks & Shares ISA, is provided by Saxo Capital Markets UK Ltd 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.
How can I apply for a Saxo ISA?
To apply for a Saxo ISA simply complete our online application form and read the relevant documents relating to the account. Both the application form and important reading documents can be found on our website.
To transfer in an ISA first complete our online application, then let us know the details of your existing ISA by completing the ISA Transfer Form here.
Can I manage ISAs alongside other investment accounts?
You can easily manage your ISA alongside other Saxo accounts – to maintain the security of your accounts you will have separate logins for each held with Saxo. Saxo ISA accounts are maintained separately from other Saxo Trading accounts.
Can I withdraw money from my ISA and is there a charge?
ISAs give you the ability to withdraw money from the account at any time, without any charges.
Please remember however that the Saxo Stocks & Shares ISA is not a Flexible ISA - when you withdraw money from your ISA, previous contributions to your annual allowance remain 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.
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.
Closing your ISA
You can close your ISA whenever you wish and there is no charge for doing so. However, by closing your ISA you will lose the associated tax benefits. Please note that should you become ineligible to make an ISA subscription at a later date, for example by moving abroad, the ISA can remain open and the associated tax benefits will be retained.
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.