What is a Stocks and Shares ISA?

A Stocks and Shares ISA is an investment account that allows you to invest tax efficiently. 


What you’ll benefit from:

  • Any income or gains you make are free from UK Income and Capital Gains Tax.
  • Complete flexibility, as you choose to invest your money in a wide range of investments.

Open a Stocks and Shares ISA

How will it work?

Invest up to £20,000 tax efficiently each tax year.

Choose from a variety of investment options, including UK and international shares, managed funds, bonds and gilts.

Trade regularly with our commission-free scheduled investment service. 

Please remember that the value of all investments can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice. There will normally be a charge for that advice. Tax treatment depends on personal circumstances and may be subject to change.

Why invest with Bank of Scotland?

Low costs

  • Our annual fee is just £36, no matter the size of your portfolio.
  • Zero commission on international online trading (1.25% foreign exchange rate still applies).

We keep it simple


What charges do I pay?

Our Stocks and Shares ISA charges are straightforward. You pay a simple flat-rate fee each year for holding the account and dealing commission each time you place a trade.

Table of charges for the Stocks and Shares ISA

Customer admin fee

You can hold an ISA, a Share Dealing Account all for a single charge of £36 a year (the same as £3 per month)

Real-time online UK trading

£9.50 online dealing commission per trade

Fund trades

£9.50 online dealing commission per trade

International online trading

£0 dealing commission, 1.25% foreign exchange rate

Scheduled regular investments


Telephone trading 

£25 dealing commission per trade

The table shows the dealing commission and account charges you’ll pay as standard. If you invest in a fund, you’ll also pay an ongoing charge directly to the fund manager. You may also pay government taxes and levies depending on the investment you choose. For full details, please read our Charges.

Understanding a Stocks and Shares ISA

  • Making withdrawals
    Bank of Scotland Stocks and Shares ISAs are not flexible ISAs. Any money you withdraw and then pay back in during the same tax year will count towards your £20,000 ISA allowance.
  • You’ll need a Share Dealing Account
    When opening a Stocks and Shares ISA, a separate Share Dealing Account will automatically open for you – a good way of investing if you’ve used up your ISA allowance.
  • Free from UK  tax
    Investing in a Stocks and Shares ISA means you pay no UK tax on any potential income or gains.
  • Your ISA limits
    You can invest up to £20,000 in your Bank of Scotland Stocks & Shares ISA or split it between different types of ISAs. More information on ISA limits found on the Government Website.

We don't provide advice so if you are in any doubt about making your own investment decisions, we recommend you seek advice from a suitably qualified financial adviser. There will normally be a charge for that advice.

How to apply for a Stocks and Share ISA

I’m new to Share Dealing

  • Ready to get started? You’ll need your address, debit card details and national insurance number to hand. This can be set up in minutes.


Open an ISA


Terms and Conditions (PDF, 336 KB)

I have a Share Dealing Account

Simply log in to apply.

Once you’ve accessed your Share Dealing Account, select ‘Open a new account’ in the right-hand navigation.


Log in to Share Dealing


Log in to Internet Banking

Frequently asked questions

If your question hasn’t been answered, take a look at our help and guidance page for further information and support.

Want to learn more about investing?

If you’re new to investing, we can help you understand the basics. Take a look out our simple investing guide and articles.


Investing for beginners

Risk explained

Boost your skills 

Investing quick guide (PDF, 747 KB)

FSCS protected logo

Investments with Bank of Scotland Share Dealing are protected up to a total of £85,000 by the Financial Services Compensation Scheme. This limit is applied to the aggregated total of any stock or cash held across the following brands which we administer.

This is in addition to any other savings deposits you may hold across Lloyds Banking Group.

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.