If you are an existing customer you can set up an Abundance Innovative Finance ISA (IFISA) with just a few clicks once you are signed in to your account. If you don’t already have an account with us you will need to sign up first.
1. Check eligibility
To open an Abundance IFISA, you need to be over 18 and be resident in the UK.
2. Set up your IFISA Portfolio
For new customers
If you are a new customer who has signed up but not yet made your first investment, you can open an IFISA through two routes:
Create an IFISA at the same time as making your first investment
Choose "Open an IFISA" from the first page you see when signing into your account.
For existing customers
If you are an existing investor on Abundance and already have a Standard portfolio, you can open an Abundance IFISA either by:
Click the 'More' button next to the name of your existing portfolio when viewing your Dashboard or Manage section of your account.
When making an investment you'll see an option to open an IFISA portfolio instead of choosing your existing portfolio(s)
3. Your ISA allowance
You can subscribe up to £20,000 in the current tax year across all of your ISAs, but you can only open one of each type of ISA in each tax year. The Abundance ISA is an Innovative Finance ISA. You can learn more here.
With the Abundance IFISA you choose the investments you want to make from the investments available on Abundance. It’s up to you exactly which investments you invest in and how much you would like to put in to each. Please note that cash held in your IFISA does not earn any interest.
Please remember, holding your investments in an IFISA does not reduce the risk of the investment or protect you from losses, so you can still lose all your money. It only means that any potential gains from your investment will be tax free. The tax treatment of your investment will depend on your individual circumstances and may change in the future.