New tax year - getting started with the things you can control
Check out our 2020-21 Tax Year Guide for details and insights on how to get organised in an unpredictable market.
For this tax year, free yourself from percentage-based charges and multiple platform fees. Instead, you can pay one low monthly fee of £9.99 for all of your accounts.
1. Invest early in an ISA
A stocks and shares ISA is the most tax-efficient way to save for the future. You can pay in up to £20,000 a year without paying tax on the gains.
The earlier you pay in, the more time your investments will have to grow.
Good to know
✔ If you have paid in less than £20,000 so far this tax year, any other savings you have could be working much harder in your ISA
✔ Unlike a pension, you can access your money when you want. That means you could use your ISA gains to boost your income – tax-free
✔ The ii ISA gives you access to our full range of more than 40,000 UK and global stocks
✔ If you have a stocks and shares ISA with another provider, you could save on fees by switching it to your existing ii account
Our flat fees cover you for multiple accounts, so if you already have a Trading Account or SIPP with us, you can add an ISA for free.
2. Open a Junior ISA for tax-free children’s savings
Want to build a nest egg for your kids, or just something to help them out in later life? A Junior ISA (JISA) is the most tax-efficient way to do it.
Good to know
✔ Anyone can contribute – grandparents, aunts and uncles can all chip in – but only the parents can open the account
✔ Invest up to £9,000 tax-free each year per child
✔ Only the named child can withdraw the money, once they hit 18
✔ Existing ii customers can use free trade credits on a JISA
✔ You can open one Junior cash ISA and one Junior stocks and shares ISA per tax year - so don’t worry if they already have a regular JISA with their bank
If you have a Junior ISA elsewhere, you could save on fees by switching it over to an ii account.
3. Top up your pension and reap the tax rewards
Take more control over your retirement with an ii SIPP (self-invested personal pension). You decide where your pension is invested and get tax perks on what you pay in.
Other providers charge percentage rates, meaning the more you make, the more you pay. With ii, you pay the same flat fee as your investments grow.
Good to know
✔ Tax relief is available on up to £40,000 of gross contributions
✔ For a basic rate taxpayer, an £8 net payment means a £10 gross contribution - the other £2 comes from the Government
✔ Your employer can contribute to your ii SIPP
✔ Choose from more than 40,000 UK and global stocks to invest in
✔ You can carry forward up to three years’ worth of unused annual pension contribution allowances
Take advantage by increasing your pension contributions before 5 April. You’ll pay less income tax as a result.
Remember, any money you put into your pension will be locked away until you’re 55 – but your future self will thank you.
4. Move old pensions into a SIPP for simpler retirement planning
Combining old pensions into a SIPP (Self Invested Personal Pension) can make planning for retirement much simpler - and you could save on fees, too.
If you don't know how much you're paying for your pensions, it is probably more than you think. Other providers take a percentage of your pension, which can add up - especially if you have multiple accounts.
The ii SIPP is different. With a SIPP fee of just £10 a month (special offer: pay no SIPP fee until April 2021) plus your service plan fee and an additional £10 monthly drawdown fee when you start taking benefits, you'll know exactly what you're paying. What's more, you could have £20,000 more in retirement with us, compared with other SIPP providers.* Learn more
It’s easy to add a SIPP to your existing account.
Regular investing is free with ii. You can top up your SIPP, ISA or trading account with as little as £25 per month.
Regular investing can also help you ride out rough patches in the stock market. Spreading your investment over 12 months means you will pay the average price for a share, rather than investing it as a lump sum at one price. Your future self will thank you.
Sign up to pay by monthly direct debit to make more of your 2020/21 tax breaks.
£0 SIPP fee promotion terms and conditions¹
- No SIPP fee shall be charged to all new ii SIPP accounts until April 2021 (the “Offer”) that are opened from and including 3 March 2020 to and including 31 July 2020¹ (the “Offer Period”). This shall include instances where a participant has submitted a full and complete application for a new ii SIPP account during the Offer Period but the account is not yet opened, where such delay is not attributable to the acts or omissions of the participant.
- The Offer is open to new and existing customers.
- These terms and conditions should be read in conjunction with the ii SIPP Terms. In the event of a conflict between these terms and conditions and the ii SIPP Terms, these terms shall prevail.
- After the Offer has ended, the SIPP fee you will be required to pay will be as set out in our Rates and Charges.
- All other fees, for example a drawdown fee which is applied once you start to take retirement benefits, are not subject to this Offer and shall continue to apply notwithstanding.
- We reserve the right to alter, withdraw or amend this Offer and/or these terms and conditions at any time without prior notice.
- All participants to this Offer agree to be bound by these terms and conditions.
- Interactive Investor Services Limited (“IISL”) is the promoter of this offer. The registered office for IISL is Exchange Court, Duncombe Street, Leeds LS1 4AX.
¹ Updated 30 June 2020