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Investment Dealing Account FAQs

Here are some of the more commonly asked questions about Investment Dealing Accounts.

Investment Dealing Account FAQs

Opening an Investment Dealing Account

How do I open an Investment Dealing Account with you?

The quickest and easiest way to do this is online using our secure service. But if you prefer you can also apply by post, using an application form.

It’s much cheaper to buy and sell investments online than by post. One of many reasons it makes sense to manage your account online.

Who can open an Investment Dealing Account?

If you are 18 or over and resident in the UK you can apply for an Investment Dealing Account. Charities, clubs and companies can also open an Investment Dealing Account.

We don’t accept applications by or on behalf of any US Persons.

Paying in to your Investment Dealing Account

How much do I have to pay in?

You can start with as little as £50 in to your IDA. This can be a one off or a regular payment.

Can I have more than one Investment Dealing Account?

Yes, you can have as many Investment Dealing Accounts as you like but remember there is a fee for each Account opened.

Can I set up a regular savings into my Investment Dealing Account?

Yes, you can set up regular monthly or quarterly payments online by direct debit at any time. Or by sending us a form.

Transferring to Alliance Trust Savings

Can I transfer investments from other providers to Alliance Trust Savings?

Yes, you can transfer other investments to us without selling them first as long as we offer them through our Investment Dealing Account Account. Your current provider might charge you for transferring.

Find out how you could potentially benefit from moving your investments to Alliance Trust Savings.

We are currently in the process of introducing new technology to support transfers and to make the process faster and easier for our customers. To aid this transition, we are only accepting cash transfers from new customers at this time.

Existing Alliance Trust Savings customers can continue to transfer in-specie.

To request a transfer in form, please contact us at 01382 573737 (Lines are open Monday to Friday, 8:00am to 5:00pm. Calls may be recorded for training and monitoring purposes).

Investing through your Investment Dealing Account

How do I choose where to invest?

We can’t give you advice, but our Investing Hub is packed with research tools, ideas and information to help you when you’re making investment decisions.

Are there restrictions on what investments I can hold in my Investment Dealing Account?

As long as we offer the investment you are interested in through our platform you can hold it in your Investment Dealing Account. There are no other restrictions.

What if the fund I want to buy isn’t available?

We regularly review the funds we offer and make changes based on customer demand. So if a fund you’re interested in investing in isn’t available please do let us know the details.

How often will I get valuations and statements?

We send out valuation statements for all our accounts twice a year. We post statements to you unless you ask us to send it to you through our secure service. In that case we email you to let you know when it’s ready to view.

One off the main benefits of managing your account online is that you login and get a valuation at any time, and print if off for your files if you need to.

When can I access my pension savings?

You can normally access the money in your SIPP from the age of 55 (but set to go up to 57 from 2028).

What are my options?

You can be flexible when it comes to accessing your pension savings.

  • Take all of your savings in one go (typically for very small pension pots)

  • Take smaller lump sums and/or

  • Take a regular income

You are in control and there are no limits to how much you can access at any one time. You can take everything in one go if you like. But only a quarter of your savings can ever be paid tax free. The rest is taxed as income in the tax year (or years) it is paid out to you.

Read our guide to accessing your pension savings.

Get free, impartial guInvestment Dealing Accountnce on your options:

pension wise

Can I really take all of the money out of my SIPP at once?

Yes you can, but remember you will have to pay tax on all but a quarter of your savings. Depending on your circumstances this could mean a big one-off tax bill that could move you into a higher rate tax band.

Here’s an example.

Mr Miller is 61 years old, he is thinking of taking out the full £125,000 he has saved in his pension. But he already has an income of £31,000 from other sources. He faces a one-off tax bill of £43,500.

Even allowing for a quarter of his pension savings being tax free, he would move into the higher rate tax band. And since his income for the year would be over £124,000, he would also lose all his personal allowance - the amount you can earn before you pay tax.

That is because, under current tax rules, an individual loses a £1 of their personal allowance for every £2 net of tax that they earn above £100,000.

Here are the figures:
Mr Miller’s income
Existing income
Pension fund withdrawal (after 25% tax free cash)
Total income for 2015/16
Mr Miller’s income tax
Personal allowance
20% on £31,785
40% on £92,965
Total income tax bill for 2015/16
What’s more, any more income Mr Miller receives this tax year would be taxed at 40%.

Important information

Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested. All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice. We can’t give you financial advice. Charges may be subject to change in the future.

Related documents

Visit our dedicated Investment Dealing Account literature page.

Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland No. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice.