Find answers to our most frequently asked questions
An ISA is an Individual Savings Account which is a tax efficient wrapper that allows you not to pay tax on any growth or income you’ve made in investing or saving while your savings or investments remain within the ISA wrapper. The government allows every tax resident in the UK a set amount of tax-free allowance within each tax year – this tax year (2022/23) it’s £20,000. If you don’t use all your tax-free allowance for that year, it doesn’t roll over to the next year.
You can read more about ISAs in our dedicated product page.
Provided you have not opened and or funded a stocks or shares ISA in the current tax year, then you can open a Stocks and Shares ISA with Clim8.
If you have a cash ISA with another provider, you can open a Stocks & Shares ISA with Clim8, and you can split your tax-free allowance of £20,000 between the two.
You will need to open a Stocks and Shares ISA with us first. Then you can contact our support team on firstname.lastname@example.org, state your current ISA provider name and request transfer-in forms. We will take care of the rest.
We have designed our forms to be simple and easy to complete. You must make sure all your details are correct and up to date when completing the forms. To complete the transfer successfully, your details also must match the ones your provider has on file, so please check first if your current provider has your most up to date address and name before completing our form.
Transfers normally take up to 4 weeks. However, this depends on your current provider. We always aim to process transfers as quickly as possible but if your transfer is taking longer than expected, it is a good idea to follow up with your current provider as they may be able to help progress the transfer across.
Contact our support team on email@example.com and we’ll handle this for you.
We accept the following types of ISA transfers, below:
Please note Clim8 only offers Stocks and Shares ISAs, therefore non Stocks and Shares ISAs transferred to Clim8 invest will convert into a Stocks and Shares ISA. If you are thinking about transferring an ISA to Clim8, please check with your current provider about exit fees and timelines, as losses might occur during the transfer process e.g. from being “out of the market”. Please note, the risks associated with Stocks and Shares ISA are different from IFISAs and Cash ISAs. If unsure whether an ISA transfer is suitable for you,speak with an independent financial adviser.
While we always work hard on making sure your transfer goes through as quickly as possible, every now and then unforeseen delays can happen. These are the most common reasons for why your transfer might be taking longer than expected:
No, ISA transfers do not count towards your annual allowance. Further contributions into your Clim8 ISA will count towards your tax-free annual ISA allowance.
The process of transferring an ISA itself is free of charge and we do not charge for supporting your transfer process. Please check with your current provider in case they have exit fees, as we would not know this information.Once transferred, your ISA will become a Clim8 ISA with our transparent fee structure.
Yes, you will need to open a Stocks and Shares ISA portfolio account first, before transferring an ISA to us.
You can transfer as many ISAs as you want over to us. You will need to complete a new ISA transfer form each time by simply by contacting us on firstname.lastname@example.org
A full transfer is the whole of your current portfolio value transferred over to a new ISA provider. Partial transfer is where you want to only transfer a certain amount of your current portfolio value. Our transfer forms are clear, easy and simple; if partial, simply state the amount you would like to transfer over in the forms by contacting us on email@example.com
Yes, you can still make deposits (subject to annual allowance) into your Clim8 portfolio whilst your ISA transfer is in progress.
If you want to transfer your Clim8 ISA to another provider, your new provider will need to email firstname.lastname@example.org. Please note, we do only accept electronic requests and not paper forms.
Your IFA will need to contact email@example.com.