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Whether you're new to ISAs or an experienced saver, we're here to help you use your tax-free savings allowance. From Cash ISAs and Stocks & Shares ISAs to answering your questions and demystifying government rules, we're here to help.
Find the right Cash ISA for you from our range
Choose from our range of Cash ISAs and pay no tax on the interest you earn. They come in variable rate and fixed rate, all our variable rate Cash ISAs are flexible.
Stocks & Shares ISAs are a tax-efficient way to invest your money. They can potentially offer greater returns than a Cash ISA, but their value can go down as well as up meaning you could get back less than you originally invested.
The ISA allowance for the 2017/2018 tax year is £20,000.
Read more about Stocks & Shares ISAs
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We offer a free initial personal review service and can help you invest in Stocks & Shares ISAs through a range of quality providers
Our savings specialists get a lot of questions about ISAs, so we're here to help you undertsand more about the complex world of ISAs.
ISA stands for Individual Savings Account. It’s the same as an ordinary savings account, except you don’t pay tax on the interest you earn.
What's the ISA allowance?
There’s a limit as to how much you can put into an ISA in a single tax year. It’s called the annual ISA allowance. The ISA allowance for the 2017/2018 tax year is £20,000. The amount of the annual ISA allowance changes every year (the government decides what it will be).
Yes. You can complete an ISA transfer to a different account as long as the account allows it.
Flexible ISAs let you withdraw money and replace it in the same tax year without affecting your annual ISA allowance.
From 6 April 2016 the Government has introduced the Personal Savings Allowance.
When you inherit an ISA allowance from a spouse or civil partner, it's referred to as APS (Additional Permitted Subscriptions).
We're here to answers your questions. The sooner you start to save, the more tax-free interest you can earn
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Our savings specialists will be happy to help
We've compiled our most commonly asked questions about ISAs to help you, whether you're topping up your ISA, transferring one to us, or simply opening a new one.
You can only have one Cash ISA in any tax year. If you've already got one, you might be able to pay your new allowance into it if your account allows it. If it doesnt, you'll need to open a new ISA. You can also transfer your Cash ISA to another provider in the same tax year, as long as your account allows it and you transfer the full amount you paid in during that year.
Before you can transfer your ISA to us you’ll need to choose and open a Skipton Cash ISA that allows transfers in. Transfers need to be done through the ISA transfer process to protect the tax-free status of your funds. We accept cash transfers from Stocks & Shares ISAs, Innovative Finance ISAs and Cash ISAs. Start the transfer process here.
We aim to complete 80% of Cash ISA and Innovative Finance ISA transfers within seven working days. Stocks & Shares ISA transfers take up to 26 days.
Some ISAs are flexible and some are not. We’ll tell you if your ISA is flexible when you open your account. Find out more about flexible ISAs here.
No – there isn't a joint account version of an ISA.
Husbands, wives and civil partners can inherit their loved one’s ISA allowance through Additional Permitted Subscription (APS). If your spouse/civil partner had an ISA and passed away on or after 3 December 2014, APS can increase your ISA allowance. Even if they left the funds in their ISA to someone else, you’ll still inherit the ISA allowance they’ve built up over the years, which can be transferred to you as an Additional Permitted Subscription allowance.
This name is often given to ISAs that have good interest rates and other features that savers might like, like easy access to your money or the ability to open and manage your account online.
If your Skipton Cash ISA is flexible you can withdraw money whenever you like and, as long as you replace the money in the same tax year your annual ISA allowance won’t be affected. If you withdraw money from a Skipton fixed rate ISA during the fixed term, a penalty will be applied.
Yes – you can make regular payments from a bank account into a Skipton ISA if your ISA account allows it, or you can pay in at your local branch.
No. You have to use your ISA allowance in the relevant tax year. However, you can continue to pay any unused current year’s ISA allowance into an ISA you already have open if the account allows it.
If you need further help
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Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
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Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.