When you set up an ISA with Nutmeg, we put the ISA wrapper on your account as a whole. This means that you can create as many pots as you like — from paying for your children's education to buying a new home — and don't have to worry about which one is your ISA pot. We'll automatically count every contribution towards your ISA allowance until you reach the limit.
When you make a withdrawal from your account, we'll first sell any investments that are not in your ISA. This means that you won't lose a portion of your ISA allowance unnecessarily.
You can transfer Stocks and Shares ISAs to Nutmeg. However, your existing investments will be sold and the money transferred as cash. We will then invest your Stocks and Shares ISA on your behalf, in accordance with our investment strategy.
Yes. Any ISA transfers will continue to be sheltered from tax.
Absolutely — although investments outside your ISA (and not in a pension or Lifetime ISA) will be subject to tax.
First, you need to find out whether your previous ISA has rolled over into this year. You should be able to do this by contacting your provider, or by checking their terms and conditions. If the ISA does roll over, we can help you transfer it to us. If it doesn't roll over, you will be able to open a new ISA with Nutmeg (and, if you want, transfer the old one as well).
Nutmeg ISAs automatically roll over from one tax year to the next — unless you tell us otherwise.
When you set up an ISA with Nutmeg, we'll ask you if you want to set a limit for your ISA — for example if you hold a Cash ISA elsewhere. Setting a limit helps make sure you don't pay too much into your Nutmeg ISA.
If you (or we) make a mistake, please let us know as soon as possible and do not try to correct the mistake yourself. In some circumstances an over-subscribed ISA could become void.
Opening an ISA once you have an account with us is easy — just log in and click on the links to "Open a current year ISA with Nutmeg". We offer two options as to what happens to your existing investments.
1) We can transfer your current Nutmeg holdings into your ISA, up to the ISA limit you set, at our next investment cycle.
2) Alternatively, you could instruct us to keep your present portfolio invested, and only apply new contributions to your ISA. This means that your current holdings would remain in a taxable account.
As with all investing, your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. A stocks and shares ISA may not be right for everyone and tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please seek financial advice.