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An ISA is a tax-free account that lets you hold cash and/or investments without having to pay tax on any interest, investment income or gains within the account.

  • You don’t pay any tax on any interest earned, increase in value, or income generated by investments, such as dividends from companies.
  • The ISA allowance is £20,000 for the 2019/20 tax year.
  • You can set up as many separate ISA pots as you like within Smarterly and they all sit in one main ISA account behind the scenes. You can use this to ring-fence different pots for different savings goals, or to spread your money across different banks, or to invest with different risk profiles.
  • Behind the scenes, we will set up your account as an Investment ISA (aka Stocks and Shares ISA) even if you choose to only hold cash within it.
  • You can contribute to other types of ISA (Cash and Lifetime ISA) with other providers, as well as your Smarterly ISA, provided as you don’t go over the overall ISA allowance.
  • For most of our products you can access your money whenever you like without any charges, although for certain types of cash deposits a notice period applies.
  • This is a flexible ISA which means that if you withdraw money and then put it back in within the same tax year it doesn't count towards your annual ISA allowance.
  • To open our ISA you must be aged 18 or over, be a UK resident and have a National Insurance Number.
  • The minimum you can invest is a monthly amount of £50 by direct debit or £10 via payroll, or £100 lump sum.


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