ISAs are out 💥 let us know your thoughts here

(Alex Sherwood) #1

If you have version 2.0.0 of the app, it’s time to unwrap that Christmas present :stars:

When you check your Profile, you’ll see the option to request an ISA. For anyone who’s not familiar with Stocks & Shares ISAs, they’re great because:

  • The growth in your investments (capital gain) is tax-free
  • Your dividends are almost entirely tax-free (some dividends on overseas stocks are taxed at source)
  • You don’t need to worry about any admin or tax self-assessment

We shared some more details about why we’re launching them in this blog post.

If you don’t have any investments & you go to convert to an ISA this evening / tomorrow, then we’ll contact you later in the week to finish the conversion process. If do have investments then you’ll be added to the group of users who’ll be converted to ISAs between the 10th - 15th December.

Share your feedback & ask questions about the ISAs here :raised_hands:

A couple of users who tested the ISAs posted about how they got on here.

(paul) #2

Finally!! the long awaited Christmas gift :slight_smile: , also nice gesture to make it free until April, good one Freetrade!


Good job :+1: :tada:

I have a few questions

  • For Instant trades does the tiny £1 Instant fee eat into the ISA allowance?

  • Can you do general investment ( non ISA ) trades up to the 10th to 15th December conversion date?

(Chris) #4

Just opened mine now at the event. Easy peasy.


Transfers of existing ISAs in aren’t currently possible; will they ever be? If you don’t want the hassle (and possible expense) of having multiple ISAs with different providers, does that mean you’d need to wait until Freetrade offer transfers in? Or could you open a Freetrade ISA April 2019, start using it, and then transfer in old ISAs after the fact, if the feature is developed?

Alternatively, is it possible to transfer in a given fund (from your old ISA or anywhere else) to your Freetrade ISA account?

(Emma) #6

It’s something planned for the future

(Jonny) #7

Amazing! Free until April too :ok_hand: :grinning: Lovely stuff!

Am I right in thinking, that when you move my Free Trade Account to a S&S ISA, you’ll move my stocks & shares too?

(Joe) #8

Before Christmas as well, what an awesome present! This is amazing, also that you’ve made it free until April. Great work Freetrade :tada::grin:

(Vladislav Kozub) #9

If you are an existing Freetrade user and signed up for an ISA in your profile, that is exactly what is going to happen. However, I believe you will not have access to investing During the week commencing on the 10th is December while the transfer will be in process.

(Giridhar Tammana) #10

Is it true for US stocks as well? I thought they are taxed before we get them in our accounts.

(Vladislav Kozub) #11

Correct, the US stocks have a withholding tax of 30%, which Freetrade will let you reduce to 15% at source once you fill the W-8BEN form.

Moreover, once there will be a SIPP available, the withholding tax goes down to 0%.

(Georgi) #12

Maybe it has been asked before but couldnt find it.
My questions is can we transfer our normal account to an ISA and vice-versa ?

Stocks & Shares ISA for small investments?
(Alex Sherwood) #13

Yes you can transfer your normal account to an ISA - if you’re already a user then you’ll see a button that enables you to do that in the Profile section of your app. It might take us a while to transfer you back to a regular Freetrade account at the moment though so please think carefully before switching to an ISA.

(Yogesh) #14

When do you expect user can have both ISA and normal account? Roughly Q1,Q2?


Wow, awesome! Literally took a matter of seconds to open it. Now just waiting for US shares and fractions. Will the W8 BEN form be available to complete as soon as US shares are launched?

(Alex Sherwood) #16

Yes it will :slight_smile:

@yogs I’m not ignoring your post :innocent: I’m just checking whether we’re able to share a timeframe yet.

(Jani) #17

We are working on an open product roadmap for early next year to share with the community (more information coming soon) so stay tuned to get more information on this :cowboy_hat_face:

(Raul Pereira) #18

ISA’s have been delivered. Great
Others have mentioned
JISA’s and SIPP’s
How about LISA’s?

On another note how about a stock screener for fundamentals?

(Kyo) #19

I just applied for the ISA can’t wait for the US Stocks to be out. I would also like to see some FTSE 250 in there too for potential growth and hidden gems that we can buy for low value.

Can’t wait for it :smiley:


So a potential strategy for the ISA fees, a monthly paying dividend etf/stock that covers your ISA fee allowing you to almost forget it.

e.g. STHS pays 5% annual dividends (thanks @PigeonStrangler) but pays out monthly; so if you had £720+ in that etf the monthly dividend would cover you ISA fee of £3/month.

Just thoughts