What is an ISA?

An ISA is a tax-efficient way to invest your money and save for the future. The Wrap stock and shares ISA gives you the potential for capital growth or income, or a combination of both. You can invest in an ISA every tax year and invest up to the annual ISA contribution limit set by the government.

The Wrap platform gives you the option to invest in a cash ISA or a Stocks and Shares ISA. ISAs are generally thought to be part of a medium to long term investment or savings strategy. This means it is usually held for at least five years or more. Standard Life does not take a charge for closing your ISA or transferring it to another provider. The Wrap ISAs are provided by Standard Life Savings Ltd.

Wrap Stocks and Shares ISA and Cash ISA features

  • The Wrap Stocks and Shares ISA allows you to invest and save in a tax efficient way – any potential growth on your investments will not be taxed when you choose to sell funds or withdraw from your ISA.
  • The Wrap Cash ISA allows you to save your cash in a tax efficient way – this means any potential growth on your savings will not be taxed.
  • You can make a lump sum payment into your Wrap ISA or make regular contributions, or a combination of both. You can also stop or vary your regular payments at any time.
  • You can invest up to the annual contribution limit set by the government across all of your ISAs. If you hold ISAs outside the Wrap platform, it is important to remember if or how much you have contributed to these.
  • There are no limits on how much or how often you can withdraw from your Wrap ISA. You have the option to take regular or one-off withdrawals.
  • Through the Wrap you have access to over 3000 funds, allowing you to tailor your stocks and shares ISA investments to meet your goals.
  • The Wrap ISAs are not flexible ISAs. This means if you have fully subscribed to your ISA allowance for the tax year, and decide to take a withdrawal, you cannot replace what you have withdrawn as this would take you over your ISA allowance limit.
  • Interest is paid on cash held within the cash ISA and the cash account which is part of the stocks and shares ISA.
  • For charges and interest rate information, please see our Wrap platform charges and interest rates page.
  • For more information, read our Key Features document.

Tax Information

  • ISAs are tax-free investment and savings products. This means you will not be liable for any taxes when you sell or withdraw from your ISA.
  • Unlike pensions, there is no tax relief for contributing into an ISA.
  • You are able to contribute across different types of ISA, but cannot contribute into two different stocks and shares ISAs in the same tax year, for example. The total contributions across your ISAs cannot exceed the annual contribution limit.
  • For more information on ISA rules, please see the gov.uk website or speak to a financial adviser.