You can invest in our Managed Portfolios through a Stocks and Shares ISA. You can subscribe new money or transfer ISAs from previous years.
The rules that govern your investment will be the same as those that apply to Stocks & Shares ISAs in general.
- You have the same allowance – £20,000 this tax year
- Whilst your money is invested, any growth is tax free, as is income from funds and UK shares
- Importantly, you remain in control of your money: you can make withdrawals or take the whole pot in cash if you need
Any money you contribute or transfer will be wholly invested in the portfolio you choose.
Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. Our Managed Portfolios are long-term investments which can fall as well as rise in value and returns are not guaranteed. Tax rules can change and benefits depend on circumstances.
ISAs – your questions answered
How much can I invest?
The minimum investment in the Quality Shares Portfolio is £10,000 gross. The minimum investment in the Wealth Club Portfolio Service is £100,000 in aggregate (across SIPP, ISA and GIA).
You can transfer existing ISAs or invest new money, subject to your annual ISA allowance– £20,000 this tax year. If the allowance is not used in one tax year, you can’t roll it into the next – it’s lost.
You can split the allowance between different types of ISA.
What are the tax benefits?
All types of ISAs – including Stocks & Shares ISAs – should be free from UK dividend, income and capital gains tax. Investors do not need to declare these when completing their tax returns.
When and how can I make withdrawals?
Investing in our Managed Portfolios should be considered a long-term investment. However, if your circumstances change, you may request for a withdrawal at any time – partial or in full.
You should be able to make withdrawals without affecting the tax benefits: the amount you withdraw should be tax free. The Wealth Club ISA is a flexible ISA, which means you can replace the amount(s) you withdraw in the same tax year, if you wish, without using up additional ISA allowances.
Where will my ISA be invested?
Any funds you contribute or transfer to the Wealth Club ISA will be invested in the portfolio you choose.
What are the charges?
Please see the Schedule of Charges in our Terms and Conditions. There are no set-up or transfer-in fees. You only pay the investment charges for the Managed Portfolio you choose, as listed in the relevant Factsheet. These include an ongoing manager fee, an ongoing custody fee, dealing fees and, where applicable, underlying fund fees.
What types of ISA can I transfer?
You can transfer any type of ISAs from any provider to the Wealth Club ISA at any time.
The transfer is normally straightforward, but the rules are more complex if you wish to transfer a Lifetime ISA or an Innovative Finance ISA – please check with your provider or seek advice.
Before transferring, you should check you will not lose benefits (e.g. fixed-term fixed interest in a Cash ISA) or incur any penalties or lose your eligibility to make new investments (e.g. if transferring a Lifetime ISA before the age of 60).
Does transferring my existing ISA into one of the Managed Portfolios count as opening a new one?
No, ISA transfers do not normally count as opening a new ISA, so do not use up your annual ISA allowance.
How does an ISA transfer work?
To start a transfer, you simply provide the details of the ISA you wish to transfer (the whole fund or just a part) when you complete your application to invest in a Managed Portfolio.
We will contact your existing provider and take care of the rest. There is no transfer-in fee. We’ll transfer your ISA online, unless this is a partial transfer or your existing provider does not support online transfers. In these cases, you will be required to complete a paper form.
Your ISA will be transferred as cash, so you will need to sell your investments first and will be out of the market whilst the transfer takes place.
What happens to my ISA when I die?
You can leave the cash and/or investments in your ISA to any beneficiary named in your Will.
They may have the option to sell the investments and receive the money or transfer the investments to their own investment account or ISA (subject to their ISA allowance).
It’s important to note ISAs are considered part of your estate. So, depending on the size of your estate on death, your beneficiaries may have to pay inheritance tax of up to 40%.
The tax treatment can be more favourable if you pass on your ISA to a spouse or civil partner. On your death, they will have a one-off chance to invest that amount in their own ISA (this is called an ‘Additional Permitted Subscription’), in addition to their standard allowance for that year. They would need do this with a provider that accepts Additional Permitted Subscriptions – this is not currently available through the Wealth Club ISA.
Managed Portfolios documents
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.