Signia Invest General Investment Account FAQ

Is the GIA right for me?

If you are looking for an investment account that offers a fast, simple and easy solution for investing your money over the medium to long term the GIA could be right for you. It involves more risk than a general savings account, however the potential for growth is greater.

As your attitude to risk and financial objectives can change you can switch the investments accordingly to reflect these.

Who can open a GIA?

Accounts can be opened in individual or joint names. 

You must be over the age of 18 to open a GIA.

What is the minimum contribution?

Minimum Lump Sum £500

Minimum Regular Contributions £50 per month

What is the maximum contribution?

There is no limit as to how much you can contribute to the GIA.

Can I transfer an existing Account to Signia Invest?

Yes. You can transfer an account held with other providers into the GIA. Signia Invest does not charge you for transferring your account across however your existing plan manger may apply exit charges (you will need to contact your current provider to find out what the exit charges may be). 

How can I transfer my existing account to Signia Invest?

If you have an existing investment account, you can move your investments to us by a process called “re-registration” or an “in-specie” transfer. This means your existing investments are not sold; they are simply moved from your current provider to us.

With your investments remaining invested at all times you will not miss out on market movements. Please note this is only possible where Signia Invest supports the assets being re-registered. This option may not be available however if your current provider does not facilitate the re-registration of your investments. 

Where you request a transfer of special or non-clean share class units, your adviser will need to arrange for these to be switched into standard or clean share class units prior to any in-specie transfer being requested. Alternatively, they can be sold, and the proceeds transferred to us as cash and then reinvested into standard or clean share class units of the same fund, or as directed by your adviser. 

If your current account provider does not facilitate re-registration, you can still transfer to the GIA. Your existing investments will need to be sold and the proceeds from the sales transferred as cash for you to invest. Please be aware that: 

You may lose out on income or investment growth while your money is not invested during the transfer period. 

Initial charges may apply when new investments are purchased through the GIA. 

You will not have access to your GIA until the cash transfer is complete. 

Before transferring you should seek advice from your financial adviser. If you decide that our GIA is right for you and you would like to transfer your existing account across you will need to complete the GIA transfer authority form and send it to us at our contact address. 

How will you keep me informed about my GIA?

Signia Invest has been designed to make it easy for you and your financial adviser to keep track of your investments and ensure you are on course to meet your objectives. Your adviser will keep you up to date with information about your investments, their performance and current value. Your adviser may also provide you with online access to this information, in which case you will be able to obtain a valuation of your GIA at any time. 

In addition, the Signia Invest Platform will send you: 

Contract notes – the Signia Invest Platform will provide contract notes to you every time investments are bought, sold or switched. Contract notes are not provided for regular investments. 

Quarterly statements – the Signia Invest Platform will provide information on the value of your investments, the transactions that have taken place on your account since your last statement, any income or dividends received and cash withdrawn. 

Corporate action notifications – the Signia Invest Platform will keep you informed of any corporate actions on investments that you hold within your GIA. 

Consolidated tax certificate – to help you complete your tax return. These will detail the taxable income received on funds directly held on the Signia Invest Platform and any tax deducted from the interest earned on cash accounts. 

Can I withdraw money from my GIA?

Yes, withdrawals from your GIA can be requested as a lump sum, or a regular payment can be set up, at any time and can be paid directly into your nominated bank account. 

Can I hold cash?

Yes, the GIA has a facility for you to hold cash. 

Is my money guaranteed?

No, the value of your investments in your GIA and any income from them can go down as well as up and you may not get back the original amount invested. Your personalised illustration gives examples of what you might get back and the projections shown are based on a range of assumptions about future growth, none of which are guaranteed. 

What happens to my GIA if I die?

In the event of the death, your legal personal representatives must provide your adviser with formal notice in the form of the original death certificate or a copy certified by a Solicitor or another regulated professional person. 

We will hold the existing investments in the Account but will not carry out any transactions. The value of your account may form part of your estate for inheritance tax purposes. If your account is held jointly and one of the account holders dies, the surviving account holder(s) will remain the legal owner(s) of the investments.

Where can I find out about the charges?

Your personalised Illustration gives you details of the charges made for managing your account and the investments, how they are taken and the effect they could have on the value of your account. The Signia Invest Platform Terms and Conditions, together with the Schedule of Charges, and your personalised Illustration, explain the charges and costs involved, how they are calculated and who receives them.

What is the tax treatment of the GIA?

Personal Tax

You may need to declare income and any capital gains from your investments on your tax return.

Any sales executed whether to pay charges, realign your portfolio or raise money for withdrawals may be subject to capital gains tax.

Dividends and income distributed from UK domiciled funds as interest, plus interest on cash deposits, are all paid gross. You may be liable for additional tax depending on your personal tax status.

Each year you will receive a consolidated tax certificate with details of all distributions made from the previous tax year.

Inheritance Tax

The investments may fall within your estate for inheritance tax purposes.

Can I close or transfer my account?

You can close or transfer your account at any time by contacting your financial adviser. 

If you are closing your account, we can sell all your investments and pay the full amount, minus any charges, directly into your nominated bank account within five business days of when we receive the proceeds. Typically, the whole process may take up to ten days from the time we receive your instruction. Alternatively, it is possible to re-register your investments in your own name if we receive your written instruction. If further income distributions are received after the account has closed, these amounts will be paid to you once all distributions have been received.

Can I change my mind?

When your application for a GIA has been accepted you will have 14 days in which you can change your mind and cancel your application. You can do this by contacting your financial adviser.

If you decide to cancel, you will have the option of transferring the GIA back to your previous account provider or receiving the value of your GIA as cash. There is no guarantee that your previous product provider will agree to do this. You may not receive the amount you originally contributed to your GIA if your investments have fallen in value between the date your contribution was invested and the date we receive your cancellation request. 

You will be unable to cancel your GIA after the 14-day period. After this time if you wish to withdraw, charges may apply. The amount received will be less any pre-agreed adviser fees.

Signia Invest ISA FAQ

Is the ISA right for me?

If you are looking for an investment account that offers flexibility and the ability to shelter capital growth and income from tax, an ISA could be the right account for you. It involves more risk than a general savings account, however the potential for growth is greater.

As your attitude to risk and financial objectives can change you can switch the investments accordingly to reflect these.

Can the ISA be held jointly?

An ISA can only be held by a single individual. It cannot be held jointly.

Does Signia Invest offer a cash ISA?

No, the Signia Invest does not offer a cash ISA.

What is the minimum investment?

Minimum Lump Sum £500

Minimum Regular Contributions £50 per month

What is the maximum investment?

Maximum Lump Sum £20000 

Subject to HMRC rules, if you are over 18 and the surviving spouse or civil partner of a deceased ISA holder who died on or after 3rd December 2014, you can pay in additional subscriptions in cash on top of the annual subscription limit up to the value of the deceased’s ISA at the date of their death, provided you have not transferred these rights to another ISA Manager. 

Does Signia Invest offer a Flexible ISA?

Yes. Signia Invest Flexible ISA is an ISA whose Terms and Conditions allow the investor to replace cash they have withdrawn, without the replacement counting towards their annual subscription limit. Where a cash withdrawal is made, any subsequent subscriptions in the same tax year that would otherwise count towards the subscription limit will do so only to the extent that previously withdrawn amounts have been fully replaced. For full details see the Signia Invest Platform Terms and Conditions. 

If I open a stocks & shares ISA with Signia Invest can I open another ISA elsewhere?

Yes, providing you do not subscribe/make payments of more than the overall subscription/payment limit in total to a Cash ISA, a Stocks & Shares ISA, an Innovative Finance ISA, and a Lifetime ISA in the same tax year. The tax year runs from 6th April to 5th April the next year. 

Can I transfer an existing ISA to Signia Invest?

Yes. You can transfer your existing Cash and/or Stocks & Shares ISA held with other providers into the ISA. Signia Invest does not charge you for transferring your ISA across however your existing plan manager may apply exit charges (you will need to contact your current product provider to find out what the exit charges may be). 

How can I transfer my existing ISA to Signia Invest?

If you have an existing Stocks & Shares ISA, you can transfer this to the ISA. Your existing investments will need to be sold and the proceeds from the sales transferred as cash for you to invest. There is no loss of tax benefits when doing this however please be aware that: 

You may lose out on income or investment growth while your money is not invested during the transfer period. 

Initial charges may apply when new funds are purchased through the ISA. 

You will not have access to your ISA until the cash transfer is complete. 

Transfers from previous tax years will not count towards your current tax year subscription limit. The transfer of a Cash ISA and/or a Stocks & Shares ISA into which you have subscribed in the current tax year will reduce the amount you can contribute into your ISA. 

How will you keep me informed about my ISA?

The Signia Invest Platform has been designed to make it easy for you to keep track of your investments and ensure you are on course to meet your objectives.

In addition, the Signia Invest Platform will send you: 

Contract notes – the Signia Invest Platform will provide contract notes to you every time investments are bought, sold or switched. Contract notes are not provided for regular investments. 

Quarterly statements – the Signia Invest Platform will provide information on the value of your investments, the transactions that have taken place on your account since your last statement, any income or dividends received and cash withdrawn. 

Corporate action notifications – the Signia Invest Platform will keep you informed of any corporate actions on investments that you hold within your ISA. 

Can I withdraw money from my ISA?

Yes, withdrawals from your ISA can be requested as a lump sum, or a regular payment can be set up, at any time and can be paid directly into your nominated bank account. 

Can I hold cash?

Yes, the ISA includes a cash account. 

Please note that cash is not a qualifying investment and may only be held for the purpose of investing in qualifying investments.

Is my money guaranteed?

No, the value of your investments in your ISA and any income generated can go down as well as up and you may not get back the original amount invested. It is important to be aware that you will lose any capital guarantees if you transfer from a Cash ISA to a Stocks & Shares ISA. Your personalised Illustration gives examples of what you might get back and the projections shown are based on a range of assumptions about future growth, none of which are guaranteed.

What happens to my Signia Invest ISA if I die?

In the event of your death, your legal personal representatives must provide us with formal notice in the form of the original death certificate or a copy certified by a Solicitor or another regulated professional person.

We will hold the existing investments in the account but will not carry out any transactions. As money will remain invested, the value could go down as well as up during this time and may be worth less than has been invested.

On the date of your death, your ISA Portfolio will become a ‘Continuing Deceased’s Account’. This means that your ISA investments will continue to qualify for preferential tax treatment for a maximum of 3 years from the date of your death.

Your ISA will be closed either when your executor closes it or when the administration of your estate is completed. Otherwise, your ISA portfolio will be closed 3 years and 1 day after your death.

Where can I find out about the charges?

Your personalised Illustration gives you details of the charges made for managing your account and the investments, how they are taken and the effect they could have on the value of your account. The Signia Invest Platform Terms and Conditions and together with the Schedule of Charges and your personalised Illustration, explain the charges and costs involved, how they are calculated and who receives them.

What is the tax treatment of an ISA?

There is no tax to pay on any interest or dividends that is paid on your ISA, and no capital gains on any growth. Where income tax has been deducted, we will reclaim tax from HMRC on your behalf where appropriate, and this will be paid back to your account. You do not have to declare ISA interest, income or capital gains on your tax statements.

The ISA will be subject to Inheritance Tax if the value of your estate is over the current tax-free threshold of £325,000 or £650,000 for a married couple. Thresholds are subject to change without notice by the HMRC.

Can I close or transfer my ISA?

For account closures, once your investments have been sold, we will pay the full amount, minus any charges, directly into your nominated bank account within five business days of when we receive the proceeds. Typically, the whole process may take up to ten days from the time we receive your instruction. If further income distributions are received after the account has closed, these amounts will be paid to you once all distributions have been received.

You can transfer your ISA to another ISA Manager at any time. 

Can I change my mind?

When your application for the Signia Invest ISA has been accepted, you will have 14 days in which you can change your mind and cancel your application. You can do this by contacting Signia Invest

Provided you cancel within the 14-day period, you will have the option of transferring the ISA back to your previous product provider or receiving the value of your ISA as cash. There is no guarantee that your previous product provider will agree to do this.

You may not receive the amount you originally contributed to your ISA if your investments have fallen in value between the date your subscription was invested and the date we receive your cancellation request. 

You will be unable to cancel your ISA after the 14-day period. After this time if you wish to withdraw, charges may apply and any contributions made will count towards your ISA allowance for the current tax year. The amount received will be less any pre-agreed adviser fees.