Find out more about our Variable Rate Cash ISA
ISAs – what are your options
Top up an existing ISA
ISAs
If you want to use your annual tax free savings allowance, open a cash ISA. ISAs are an excellent choice for earning tax free interest on your money, building up long term savings and reducing your tax bill, especially if you're a higher rate taxpayer.
Variable Rate Cash ISA
Our Variable Rate Cash ISA, like all of our savings cash ISAs, allows you to transfer in any other cash ISA balances. If you have fully subscribed to the cash ISA limit in a tax year, any amount withdrawn cannot be reinvested until the following tax year.
What are ISAs?
An ISA is a tax efficient way of saving or investing as all income and capital gains arising within an ISA are exempt from any personal liability to UK income tax and capital gains tax.
There are two types of ISA:
- stocks and shares
- cash
A payment by you into an ISA in any tax year is called a subscription. You can only subscribe to one of each type of ISA per tax year.
What are my subscription limits?
Because of their tax advantages ISAs are subject to annual subscription limits. For the tax year commencing 6 April 2011 the overall ISA subscription limit is £10,680, of which up to £5,340 can be subscribed to a cash ISA with one provider. The remainder of the £10,680 can be invested in a stocks and shares ISA with either the same or another provider. Alternatively, the full £10,680 can be invested in a stocks and shares ISA with one provider.
You cannot subscribe to more than one of each type of ISA per tax year.
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Top up an existing ISA
Top up your existing Variable Rate Cash ISA by real time transfer of funds from your HSBC Bank Account using Personal Internet Banking.
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† Lines are open 8am to 10pm everyday (except Christmas Day, Boxing Day and New Year's Day).
