ISA Calculator | Stocks and Shares & Lifetime ISA Calculator - Nutmeg (2024)

FAQs

Is Nutmeg good for lifetime ISA? ›

Description: Owned by JP Morgan, Nutmeg won the “Best Lifetime ISA” category in our 2022 award, offering one of the simplest low cost LISAs with a range of low, medium and high-risk options. Fees: A Lifetime ISA with Nutmeg costs 0.75% for their managed portfolios which drops to 0.35% for balances over £100k.

If you don't yet have a Nutmeg account, sign up and complete your profile. If you already have one, just sign in. Then, enter your current ISA details for us to arrange the transfer. For many providers we're able to conduct the whole ISA transfer process online.

The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. A stocks and shares ISA may not be right for everyone and tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please seek financial advice.

You can pay into two ISAs in the same tax year provided they are different types of ISA. It would be fine to pay into both a cash ISA and a Stocks & Shares ISA in one tax year as long as you're below the £20,000 limit. You would not be able to pay into two different ISAs of the same type.

You can put in up to £4,000 each year, until you're 50. You must make your first payment into your ISA before you're 40. The government will add a 25% bonus to your savings, up to a maximum of £1,000 per year.

The Lifetime ISA has an annual allowance of £4,000 per tax year. Once you've used your full LISA allowance, any subsequent Direct Debit contributions intended for your LISA pot will be redirected to "Unallocated Cash" awaiting your instruction. You will receive a Nutmail prompting you to allocate your cash.

Is there a minimum investment? You can start investing with as little as £100 for a Lifetime ISA or £500 for General and ISA pots.

If you are planning to buy a home within five years, it makes sense to open a cash Lifetime Isa and grab any bonuses going during that period. Any period shorter than this is less than the timescale financial advisers traditionally recommend for investing over saving.

Putting money into an ISA

Every tax year you can save up to £20,000 in one account or split the allowance across multiple accounts. The tax year runs from 6 April to 5 April. You can only pay into one Lifetime ISA in a tax year. The maximum you can pay in is £4,000.

Is Nutmeg part of Chase? ›

Get to know Nutmeg

With over 200,000 customers, this award-winning team is now part of the Chase family. Learn more about Nutmeg (Opens in new window).

Choosing funds that invest in companies around the world which are delivering strong levels of earnings growth is a common theme among the ISA millionaires as there are other popular global equity names alongside Fundsmith. These include Rathbone Global Opportunities and Lindsell Train Global Equity.

Investment Isas, where you invest your savings in the stock market, could offer you the chance to make higher returns. However, returns are not guaranteed and you could make a loss if you withdraw your money at a time when markets are down.

If you're a married couple, you can put up to £40,000 in ISAs between you. Tax-free. Be aware. You can choose how much or little of this £20,000 allowance you want to invest each year but do bear in mind, you can't 'carry it over' to the next year.

A fund might be a dud, a fund manager might leave, or you might not be willing to take as many risks as you once did. If you don't review your portfolio regularly, you could end up with a stocks & shares ISA losing money. Don't panic. Investments can go down as well as up.

Nutmeg, mace and their oils are "generally recognized as safe" (GRAS) as food ingredients by the U.S. Food and Drug Administration.

There are no limits to the number of ISAs you can have. You can open or contribute to the following types of ISA per tax year, as long as you don't exceed the £20,000 annual allowance: Stocks and shares ISAs. Cash ISAs.