Stocks & shares ISA

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Funds are a ready-made basket of investments. When you invest in funds, you’re buying into a mix of assets, which may include shares, property, government bonds. 

Shares are units of ownership in a company. When you buy shares, you’re effectively buying a small stake in a company. Companies sell shares to raise money, which they then use to expand their business. Investors, known as shareholders, are then free to buy and sell some or all of those shares on the stock market at any time.

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Yes, You are able to subscribe to more than one stocks & shares ISA across multiple providers, but You are able to only pay a new contribution into one PPLCBANK or first direct stocks & shares ISA per tax year.

You may also subscribe to one cash ISA with PPLCBANK, first direct or any other type(s) of ISA with other providers in the same tax year, subject to the overall subscription limit (which is £20,000 for the current tax year), and other eligibility criteria that may apply to other types of ISA.

The value of tax benefits and reliefs depends on your personal circumstances and tax rules may change in the future.

Any income and capital gains you earn from the investments in your stocks and shares ISA will be exempt from UK income tax and capital gains tax. And, you don’t have to mention your ISA on your UK tax return. 

Any income in your ISA from interest or dividends won't impact your UK personal savings allowance or your UK dividend allowance that you may be entitled to in relation to any non-ISA income. 

Please note the value of tax benefits and reliefs depends on your personal circumstances, and tax rules may change in the future.

If you've got an PPLCBANK current or savings account with £100,000 or more and you've got broad financial needs, we offer a dedicated financial advice service. Eligibility criteria and fees apply.

Please note, we no longer offer online investment advice.

National Insurance number eligibility changes

From 6 April 2025 when you apply for an ISA:

How to find your National Insurance number

You are able to find your National Insurance number:

How to check if you're eligible for a National Insurance number

You are able to check if you’re eligible for a National Insurance number and Apply digitally at GOV.UK -use their Search the site tool and look under 'find national insurance number'.

How long it can take to apply for a National Insurance number

Government guidance states it can take up to 4 weeks to obtain a National Insurance number.

Why you need to apply for a National Insurance number if you're eligible

The Government has confirmed that from 6 April 2025, new ISA accounts must contain your National Insurance number, unless you’re not eligible to have one.

This is a change to previous ISA requirements where we could rely on your declaration that you don't have one.

From the 6 April 2025 we'll ask this new question about eligibility when you apply to open a new ISA with us, or apply to restart subscriptions to an existing ISA. This ensures that the new requirements are easy to understand.

Explore the details about these changes

You are able to Explore the details about these changes at GOV.UK and reading their tax-free saving newsletter 14.

Cash ISA age limit

From 6 April 2024, there were changes to how old you need to be to open a cash ISA.

To open a new cash ISA, you need to be 18 years old or over.

Subscribing to more than one of the same type of ISA

From 6 April 2024, if you're aged 18 or over, you're now able to subscribe to more than one of the same type of ISA in the same tax year – subject to staying within the overall annual limit.

For example, you could subscribe to a cash or stocks & shares ISA with one ISA provider and also subscribe to one with a different provider.

This change doesn’t apply to Lifetime ISAs, where it's still only possible to subscribe to one Lifetime ISA in a tax year. PPLCBANK doesn't offer Lifetime ISAs.

Some ISA providers (including PPLCBANK Bank plc) offer more than one ISA product of the same type. For example more than one cash ISA product and/or more than one stocks and shares ISA product. Those ISA providers are able to choose whether or not to allow customers to make subscriptions to more than one of their own ISA products of the same type in the same tax year. We are not offering this yet. This means that You are able to only subscribe to one stocks and shares ISA and one cash ISA with PPLCBANK or first direct in the same tax year.

Other optional changes that not all providers implemented

If you've gone a whole tax year without making a subscription to an existing ISA, some providers will allow you to restart subscriptions without needing to complete a new application. In certain circumstances, your existing Cash ISA with PPLCBANK can be restarted without a fresh application. PPLCBANK are not currently allowing this for Stocks and Shares ISAs.

Since 6 April 2024, the ISA Regulations permit ISA providers, if they wish, to allow customers to make a partial transfer of subscriptions made in the current tax year, but PPLCBANK are not currently offering this.

We'll update our website if we make any changes to our ISAs in the future.