Individual Savings Account (ISA)
and Unit Trust FAQs.

Can I have more than one ISA?
  • You can contribute to a stocks and shares ISA and a cash ISA within the contribution limits in the same tax year. 
  • You cannot contribute to more than one stocks and shares ISA, or more than one cash ISA in the same tax year.
  • Your cash ISA and your stocks and shares ISA do not have to be with the same provider.
  • You can hold onto ISAs from previous tax years - so you may end up with several ISAs from a number of different ISA providers.
Can I spread my allowance in stocks and shares ISAs?

Yes, you can invest your allowance into a range of funds, with the same provider. You will need to select the percentage you would like to invest in each fund.

How can I switch my unit trust investment to an ISA?

You will need to write to us, call us, or if you've registered on My Account  you can send a message via the Secure Message Centre.

How long should I keep my money invested in my stocks and shares ISA?
  • There’s no time limit and you’ll qualify for the tax advantages immediately.
  • Our investment funds are designed as medium to long-term investments - ideally five years or more.
If I transfer my ISA to you will I lose my ISA allowance?
  • No, your money will still be kept in an ISA and transferring won’t affect this tax year’s ISA allowance – so you won’t lose out on your tax benefits if you decide to transfer to us.
  • You won’t benefit from any rise in the markets whilst your ISA transfer is taking place, so you could lose some income or growth.
  • We won't charge you to transfer your ISA to us but other charges may apply. Your current provider may charge an exit fee.
How can I transfer an existing ISA to Legal & General?

To transfer a cash or stocks and shares ISA from another provider to a Legal & General stocks and shares ISA, you'll need to complete our ISA Transfer Application Form (PDF:522KB) and return it to us by post.

Who can invest in a stocks and shares ISA?

You’ll need to be:

  • Aged 18 or over.
  • Resident in the UK for tax purposes. If you're not sure what this means please contact HM Revenue & Customs.

You’re not able to hold a stocks and shares ISA jointly.

Why invest in a stocks and shares ISA?
  • You can make more of your money tax-efficient by investing in a stocks and shares ISA. Currently you can invest up to £15,000.
  • The benefit of the tax treatment depends on your individual circumstances.
  • The tax efficiency of ISAs is based on current rules. The current tax situation may not be maintained.
  • You'll be able to invest in one or more of a range of assets like: 
    • Shares/Equities - shares issued by a company are normally listed on a stock exchange. Individuals who buy shares hold a share in that company and are entitled to dividend payments and voting rights.
  • Corporate bonds or fixed interest investments - are loans to companies or the Government. They usually pay an agreed level of interest each year and aim to pay back the capital at the end of a stated period.
  • Property - You can invest in shops, office blocks, retail parks and warehouses via a commercial property fund.
How can I invest in your funds?
  • You can invest in our funds either through a stocks and shares ISA or as a unit trust.
  • A stocks and shares ISA is a tax-efficient investment and you can invest up to your annual ISA allowance of £15,000 currently.
  • If you’ve used up your ISA allowance, investing in a unit trust is a good way to invest an unlimited amount.
  • You can invest up to £15,000 online in an ISA, today.
  • You can invest up to £100,000 online in a unit trust, today.
  • The minimum lump sum investment is £500 and £50 if you’d like to set up monthly payments.
  • The value of your investment can fall as well as rise and you may get back less than you invest.
  • You should consider this to be a medium to long-term investment, ideally of five years or more.
How can I withdraw my money?
  • You can withdraw amounts of £500 or more from your investment at any time, providing you leave £500 in the ISA or unit trust.
  • Alternatively, you can withdraw all your money.

To make a withdrawal or fully cash in your investment, contact us by either of the following:

By phone:

0370 050 0955
8.30am to 6.00pm, Monday to Friday.

We may record and monitor calls. 

Call charges will vary.

By post:

Legal & General Investments 
PO Box 6080
Wolverhampton
WV1 9RB

If you’ve registered with our online account management service My Account, you can withdraw your money online. If you place a deal by telephone, it must be confirmed in writing before any payment will be made.

Payment will then take place either:

  • Within four business days, after the valuation point. In some cases we may have to delay payment to you so we can check the instruction received and the verification of your signature. 

or

  • After we receive written instructions and any other documents that we may need from you.
How can I spread risk?
  • Investing in a range of different funds/sectors is a good way to spread risk. If parts of your portfolio underperform, the rest of your portfolio could balance out the overall performance of your total investment.
  • The types of assets you could consider are stocks and shares, corporate bonds and commercial property.
  • By investing in one type of asset, for example shares or property, you could be exposing yourself to more risk than you might be comfortable with.
What is the difference between a ‘yield’ and an ‘income’?
  • A fund distributes all the income it receives after allowing for any charges. Depending on the fund, this income will be paid monthly, quarterly, half yearly or annually and will be either interest or a UK dividend. All our funds offer the option for income to be automatically reinvested.
  • A yield is published as an estimate of the level of income that will be paid. For funds investing mainly in equities (shares in companies) or commercial property, a historic yield is published. The historic yield is based on the actual income the fund has paid out recently.
  • For funds that invest mainly in bonds, a distribution yield is published. The distribution yield calculates the income the fund would expect to pay if it continued to hold the bonds it currently invests in.
How are units bought or sold?

If you'd like to buy or sell units in an ISA or unit trust, we'll use the price at the next valuation point (usually midday or 3:00pm, Monday to Friday, except Bank Holidays). Therefore, we can't guarantee the actual unit price at the time of the transaction. 


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