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How do I open an Aviva Stocks & Shares ISA?
- Make sure it's right for you
- Choose your investment funds
- Apply online in less than 15 minutes
Aviva Stocks & Shares ISA summary
The Aviva Stocks & Shares ISA is a way of investing - to try to make your money grow over time. It's tax-efficient, so you don't pay any income or capital gains tax on any returns you make and it doesn't need to be declared on your tax return.
A stocks and shares ISA can be more risky than a cash ISA but, historically, the return on investment is greater over time. You can find out more about the difference between a stocks and shares ISA and a cash ISA in ISAs Explained.
You can open an Aviva Stocks & Shares ISA if you are:
- Over 18
- Resident in the UK
You may also be eligible if you, your spouse or civil partner works overseas for the UK Government.
To get the most out of the Aviva Stocks & Shares ISA, you need to put your money in investment funds. There are three ways to choose the funds you invest in:
- Ready-made funds: built by Aviva Investors, pick from 7 funds managed to different levels of risk.
- The experts' shortlist: choose your own funds from a shortlist of around 70, selected by Aviva Investors.
- The full funds range: pick from around 2000 funds.
You don't have to choose your investments as soon as you open an ISA. We'll hold your money in cash, currently at a variable interest rate linked to Bank of England base rate of 0.25% tax-free/Annual Equivalent Rate (AER) payable monthly, until you tell us how you'd like to invest it. If the interest rate on the cash account is less than the Aviva charge your money in the cash account will reduce in value. HSBC is currently the provider of our cash accounts, although this may change from time to time.
As with all investments, the value of an Aviva Stocks & Shares ISA can go down as well as up. Any return on investment will depend on the fund you choose to invest in and how much risk it carries. Risk is often measured by volatility, which refers to how often, and how far, an investment's value rises and falls over time.
Investing in funds with high volatility could mean larger falls in the value of your ISA at times - but they can also result in higher returns. Lower risk investments tend not to change as much over time, but can result in lower returns.
The most you can invest this tax year is £15,240 - that's your ISA allowance for 2016/2017. You can put your full allowance into a stocks and shares ISA or cash ISA, or you can split it across a stocks and shares ISA and a cash ISA. You can only invest in one cash ISA, one stocks and shares ISA and one Innovative ISA each tax year from any provider.
Find out more about your ISA allowance and how it works in ISAs explained.
To open an Aviva Stocks and & Shares ISA, you'll need to:
- Set up payments of at least £50 a month
Or, if you don't want to set up monthly payments:
- Make a single payment of at least £500. Any ad hoc payments that follow must be at least £100.
You can change your regular payments whenever you want, as long as you're within your ISA allowance. You can also stop and re-start payments at any time.
In this flexible ISA you can withdraw money from your ISA and pay it back again without affecting your £15,240 allowance. You just need to make sure that any money you withdraw is paid back in during the same tax year.
Any capital growth and income you receive from your ISA are free from capital gains tax and income tax, and you don't have to pay tax on any withdrawals from your ISA.
Your exact tax benefits will depend on your personal circumstances and current tax laws. Some investment income may be received by the fund manager with tax credits, or after tax deductions, which cannot be reclaimed. We've based our information on current UK legislation, but this may change in the future.
There are two charges associated with an Aviva Stocks & Shares ISA. Here's how they work.
The Aviva charge is our annual cost for managing your investments. If you have an Investment Account or Pension as well as an Aviva Stocks & Shares ISA through this platform service, we'll use these to calculate the Aviva charge. This approach rewards you for the total value of your holdings.
|Value of your investments||Annual charge|
|Amount above £500,000||0.00%|
The Aviva charge is calculated daily and taken monthly from your cash account - that's the part of your account that holds your money before it is invested - so make sure there's enough money in there to cover the charge. Take a look at the terms and conditions (209 KB) for more information about the cash account and the Aviva charge.
Fund manager charge
Expert fund managers manage the funds you invest in. When you are considering where to invest your money, you can find full details of the fund manager charge in the Key Investor Information Document for your chosen fund. The charge will then be shown on your statement as an Ongoing Charge Figure (OCF) or Total Expense Ratio (TER).
Platform provider and ISA Manager: Aviva Wrap UK Limited. Registered in England No. 4470008. Aviva, Wellington Row, York, YO90 1WR. Authorised and regulated by the Financial Conduct Authority. Firm Reference Number 231530.
Aviva UK Digital Limited introduces to Aviva Wrap UK Limited for ISAs. Aviva UK Digital Limited is registered in England No. 09766150. Registered office: St Helen’s, 1 Undershaft, London EC3P 3DQ. Authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 728985.