Aviva ISA

Overview

The Aviva ISA is a stocks and shares ISA that allows you to save and invest in a tax efficient way. It allows you to invest all of your money in cash, all of it in stocks and shares, or a combination of both, up to the ISA allowance.

Five reasons to open an Aviva ISA

  1. Flexibility to move between investment options and cash all under one account.
  2. Choose and buy online from a wide range of investments, giving you control over what you invest in.
  3. Invest in some of the biggest companies in the UK via our low cost share dealing service - Available from Summer 2015.
  4. Our easy-to-use website makes it simple to access and manage your own account online, 24/7.
  5. Open an account from as little as £50 per month or £500 lump sum.

The value of some investments could go down as well as up. You may get back less than the amount that has been paid in

Things to consider?

To save and invest in our ISA you must be:

  • Over 18.
  • Resident in the UK.

You may also be eligible if you, your spouse or civil partner work overseas for the UK Government

You can only invest in one stocks and shares ISA each tax year from any provider.

The Aviva ISA may be for you if you want:

  • to make regular payments each month of at least £50.
  • to make an initial single payment of at least £500.
  • to add single top-up payments of £100 or more.
  • the flexibility to stop, start or change your payments (subject to the Aviva ISA limits).

The Aviva ISA may not be for you if you:

  • can’t commit to making regular payments of at least £50 a month, or an initial/transfer payment of at least £500.
  • have already paid into a stocks and shares ISA in this tax year.
  • want to hold all of your ISA allowance in cash.

Charges

We’ve kept our charges simple and straightforward so you know exactly what you’re paying.

  • Low Aviva charges of no more than 0.40% p.a
  • No Aviva charges for money held in the cash account
  • No charge for electronic transfers
  • Reward you with lower percentage charges if you invest more

Charges made by Aviva

Aviva charge

This is our annual charge for managing your Aviva ISA.

If you have an Investment Account or Pension as well as an ISA through this platform service we will use these to calculate the Aviva charge. If you have a structured deposit(s), the initial structured deposit value will be taken in to account when calculating your charge. This approach rewards you for the total value of your holdings.

When we calculate the Aviva charge, we don’t include money held in any cash accounts or fixed term deposits.

No Aviva charge will be made against money held in any cash accounts or fixed term deposits.

Value of portfolios Annual charge
First £50,000 0.4%
Next £200,000 0.35%
Next £250,000 0.25%
Amounts above £500,000 0%

The charges are calculated on a daily basis and taken monthly from the cash account

For example, if the total of your investments is £100,000 the annual charge will be:

0.4% of the first £50,000 = £200

0.35% for the remaining £50,000 = £175

Total Aviva charge = £375 per year

The example assumes the value of the investment remains at £100,000 throughout the year. If this value changes, the charge will change accordingly, since it's worked out on a daily basis.

You need to make sure there is enough money in the cash account to cover our charges. If there isn’t enough money in your cash account we will automatically take the money from across your investments. For certain investments, we will not do this and we will contact you to make suitable arrangements for payment by you.

We’ll give you 30 days’ notice if we have to change our standard Aviva charge.

Paper correspondence charge

We will normally send you information about your account electronically. If you would rather receive paper correspondence there’s a charge of £3.00 per month for this service.

Charges made depending on your investments

Fund manager charges

In addition to our Aviva charge, fund managers will also take charges that will depend on the investments chosen. These charges will be shown as the ongoing charges figure (OCF) or total expense ratio (TER). These charges represent the annual cost of managing the investment.

Stockbroker charges

Regardless of the size of the transaction, there is a dealing charge taken by our nominated stockbroker for the investments below:

Buying and selling of Transaction charge
Shares £7.50
Exchange traded funds £7.50
Investment trusts £7.50
Fixed income investments £7.50

Some exchange traded investments may also carry annual charges in addition to the dealing charges listed above.

Government taxes and levies

If you buy stocks and shares you will normally have to pay Stamp Duty Reserve Tax to HMRC of 0.5%.

A £1 flat rate charge will also be made on UK equity transactions over £10,000 to The Panel on Takeovers and Mergers.

Transfer charges

Electronic transfers are free, but we take an administration charge on behalf of our nominated stockbroker for transferring shares where the share certificate is held in paper form. These are known as certificated transfers.

The following charges apply:

Certificated transfers in – £20

Certificated transfers out – £20

Paying in and investing

With your Aviva ISA, you choose how much you want to save and/or invest (within the ISA allowance limit) and where you invest it.

Making payments

  • Payments into your ISA are made online. The process is simple – straightforward instructions on the website will show you what to do.
  • Make regular payments from £50 a month, or
  • Make one off payments of at least £100 (subject to regular payments or £500 initial lump sum being paid). These can be made by debit card or direct debit.
  • Change your regular payments whenever you want, subject to your ISA allowance.
  • The money you use to open your account will be held as cash until you tell us how you’d like to invest it.
  • You can stop and re-start payments at any time.

Transferring into your ISA

  • You can transfer an existing ISA in to the Aviva ISA.
  • You are now able to transfer money from a cash ISA to a stocks and shares ISA, and vice versa
  • There are no payment limits for transfers in from another ISA.
  • You can combine single payments and transfer payments to meet our minimum payment. The single payment will count towards your annual limit of £15,000 for the tax year 2014/2015 (this will increase to £15,240 for the 2015/2016 tax year), while the transfer will not.

Choosing your investments

Choose from a range of investments including:

  • Funds
  • Unit trusts
  • Investment trusts*
  • Structured deposits*
  • Fixed income investment e.g. gilts and retail bonds*
  • Shares*
  • Exchange traded funds*

*Available from Summer 2015. If you have any queries, please contact us on 0800 285 1088.

We’ve a range of ready made funds that you can choose from based on how much risk you want to take, as well as a wider range of investments.

You don’t have to choose your investments as soon as you open an account. Your money can remain as cash within the cash account until you’ve chosen investments.

Making changes to your investments

We’ve made it simple for you to access your account and review your investments at any time you choose – you can do everything online.

What about tax?

ISA allowance

You can invest up to an annual limit of £15,000 within the tax year 2014/2015 and £15,240 in 2015/2016. This can be all in cash, all in stocks and shares, or a combination of both.

You can’t subscribe to more than one cash ISA and one stocks and shares ISA in the same tax year.

Tax benefits

Any capital growth and income from your ISA are currently free from capital gains tax and income tax. You don’t have to pay tax on any withdrawals from your ISA.

Your precise tax benefits will depend on your personal circumstances and current tax laws. We’ve based our information on current UK legislation, but this may change in the future.

Taking money out

When can I get access to my money?

  • You can arrange to withdraw money from your ISA at any time.
  • When you take out money from your ISA the minimum single amount you can withdraw is £100.
  • The minimum regular amount you can withdraw is £50 per month
  • You can arrange for your ISA to be withdrawn in full at any time. Some investments may need to be sold before your money can be accessed.

Depending on what investments you have made, the value of your ISA may have fluctuated, so you may get back less than you have invested.

Does taking money out affect my ISA allowance?

If you withdraw money from your ISA the amount you originally invested still counts towards your ISA allowance of £15,000 for the tax year 2014/2015 and £15,240 for the tax year 2015/2016. For example, if you have invested £3,000 but then withdraw £1,000 in the same tax year, you can invest another £12,000 during the same tax year. The fact you’ve withdrawn £1,000 doesn’t increase your allowance.

If you’ve paid up to your ISA allowance of £15,000 and withdraw some cash, you can’t put any money back in during the same tax year.

Managing your account online

MyAviva

Managing your ISA account online gives you control over what investments you buy, plus easy access to your account information whenever you want.

You’ll access your account through MyAviva – our online service that provides a single, convenient location for you to manage the Aviva products you use.

Any documents you need will be stored within your MyAviva account, so you need never search around for information.

We’ll contact you twice a year to let you know when your statement is available to view on MyAviva.

Here’s what you can do

  • Make changes online
    You can review and change your investments at any time, and carry out real-time share dealing when the UK stock market is open.
  • Review your account
    Check how your investments are performing and the value of your ISA account.
  • Self-service
    Apply for investments and manage them online. You can make payments by debit card or direct debit and can add, change and stop your contributions at any time.

Contact us

Speak to one of our team, they can explain more about this product and will answer any questions you may have.

0800 285 1088

Monday to Friday
8:00am - 6.30pm
Saturday
9:00am - 12noon

For our joint protection, we may record our telephone calls. Calls are free from a BT land line. Costs may vary from mobiles and other networks.

Nothing on this site is personalised advice or a recommendation. If you need a personalised recommendation based on your personal circumstances, you should seek financial advice. We can put you in touch with an adviser who can talk to you about which financial products or investments may be right for you. Alternatively, you can visit unbiased.co.uk to find an adviser in your area

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