Nutmeg manages ISAs somewhat differently than you may be used to. You can set up multiple pots for different goals and at different risk levels and they can all be within your ISA. More about how we manage ISAs. Because you don't need to relate each pot to an ISA, you can focus on your investing goals with each pot and leave the management of the ISA to us.
Here's how to set up a stocks and shares ISA with Nutmeg:
Simply follow any link to ‘Invest now’ or ‘Get started’. Choose a stocks and shares ISA during the sign up process. We'll ask about any goal you may have for your ISA, the timeframe you expect to invest for, the investment style you prefer — fixed allocation, fully managed or socially responsible — and the risk level you're comfortable with. We'll also ask you some questions about your own risk preferences so you can make sure the risk you choose is appropriate for you and the timeframe of your investment.
We'll need basic information about you in order to set up your account including your National Insurance number as required by HMRC. Once you're happy with our terms and conditions, check the box to set up your ISA and pay in. As part of opening a Nutmeg account we are required to perform an identity check. If everything checks out we'll set your ISA up right away. Once you pay in, after your money arrives, which can take 3 business days for a debit card payment, we'll invest it on our next twice-weekly investing cycle.
If you have paid into a cash, lifetime or innovative finance ISA elsewhere in the same tax year, you can set an ISA limit in your ISA settings so you won't be oversubscribed. By default, Nutmeg will invest your contributions into an ISA up to the full limit, or the limit you choose to set.
You can also transfer a cash or stocks and shares ISA to Nutmeg to start your ISA with us.
Existing customers with a general investment account (GIA)
If you already have your money invested in a Nutmeg general investment account, you can add an ISA wrapper to it at any time by selecting 'Start an ISA' on the left-hand side once signed in.
You don't have to choose a pot, or even start a new pot for your new ISA. When setting up the ISA there will be an option to autofill your ISA. With this option set to ON we will automatically move non-ISA investments you already have into your ISA up to the ISA limit.
That means you can effectively use your ISA allowance with your existing Nutmeg investments. Be sure to read the tax implications that may affect you with this option. If you prefer not to do this, just move your auto-fill setting to OFF and we will only invest new cash you pay into your ISA. Bear in mind it can take a week to move existing investments into an ISA.
If you have a cash, lifetime or innovative finance ISA elsewhere for the current year we provide the option of setting a limit for your ISA to help ensure you are not oversubscribed. By default, Nutmeg will invest your contributions into an ISA up to the full limit, or the limit you choose to set.
More ISA links: