Here are some of the best Stocks and Shares ISAs to invest tax-free
Stocks and Shares ISAs let you invest tax-free — which means you won’t pay tax on capital gains, dividends or any interest earned on the money you put in them. You have a £20,000 ISA allowance each year, which includes any Cash ISAs or Lifetime ISAs you have. This means that you can pay up to £20,000 into ISAs each year and for as long as the money is held in them, it is tax-free.
There are broadly two types of Stocks and Shares ISA to choose between, do-it-yourself and fully managed. We explain in more detail what each of these mean below.
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Here at Be Clever With Your Cash, we’re not regulated to give you financial advice. We aim to give you the facts about a provider or investment but it’s up to you to decide if it’s suitable for you. If you’re looking for more personalised guidance, find a financial adviser who can give you specific advice. Remember that your capital is at risk when investing — don’t invest more than you are prepared to lose.
Best DIY and self-select Stocks & Shares ISAs
Do-it-yourself Stocks and Shares ISAs are ones where you choose the investments for your portfolio yourself. This could be a range of company shares, different types of funds and possibly even some commodities or precious metals. You’d be in control of managing your portfolio and ensuring it reflects the risk you plan to take.
Our picks below assume that you’re mostly interested in passive investing, which is mostly suited to beginners. This would mean you’d want to invest in exchange-traded funds (ETFs) or index funds. With many of these providers, you can also invest in shares, but this takes a lot more knowledge and skill.
Top picks
Customer rating
4.4/5
- Annual fee0.25%
- Trading feeFrom £1.50 (or free with regular investing)
- Minimum deposit£25 per month or £250 lump sum
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Interest on uninvested cash 1.75% AER
- Flexible ISA No
- Foreign exchange fee 0.75% on £0-£10,000, 0.50% on £10,000-£20,000, and 0.25% on values over £20,000
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 155593
- Risk warning The value of your investments can go down as well as up and you may get back less than you originally invested
Lightyear Stocks & Shares ISA
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£0
- FSCS Protected? If Lightyear goes out of business and there is a shortfall in the funds they are holding for customers, they may be able to claim for losses up to the value of £85,000 through FSCS
- Transfer in existing ISA? Yes
- ETF trading fee £0
- UK shares trading fee £0
- US shares trading fee £0
- Fractional shares Available in General Investment Account only
- Flexible ISA Yes
- Interest on uninvested cash 1% on GBP for UK customers
- Foreign exchange fee 0.1%
- Fund fees If you invest in funds, you'll have to pay fund fees between 0.03% and 0.78% depending on the funds you choose
- EU shares trading fee £0
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 987226
- Risk warning Capital at risk. The value of investments can go down as well as up
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£100
- Important details You can't invest in individual shares with InvestEngine, just exchange-traded funds (ETFs)
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Interest on uninvested cash No
- Flexible ISA Yes
- Fund fees When you invest in funds you'll also have to pay fund fees between 0.03% and 0.89%, depending on which ones you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 801128
- Risk warning Capital at risk. The value of investments can go down as well as up
Other options
Customer rating
4.6/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£0
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Fractional shares Yes
- Interest on uninvested cash 4.50%
- Flexible ISA Yes
- Foreign exchange fee 0.50%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 522157
- Risk warning Capital at risk. The value of your investments may go up or down
Customer rating
4.9/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£1
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Interest on uninvested cash No
- Flexible ISA No
- Fractional shares No
- Foreign exchange fee 0.99%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 669450
- Risk warning Capital at risk. The value of investments can go down as well as up
Customer rating
4.7/5
- Annual fee£0
- Trading fee£0
- Minimum deposit£0
- Offerup to £300 in free shares*
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Interest on uninvested cash 3.75%
- Fractional shares No
- Flexible ISA Yes
- Foreign exchange fee 0.70%
- Fund fees If you invest in funds, you'll have to pay fund fees depending on the funds you choose
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 944492
- Risk warning Capital at risk. The value of investments can go down as well as up.
- Offer Invest a minimum of £300 and get up to £300 in free shares. T&Cs apply. Other fees may apply.
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Best managed Stocks and Shares ISAs
Managed Stocks and Shares ISAs are where you choose from a range of ready-made portfolios made by investment experts. You’d usually choose one based on your appetite for risk and it’s already built from a range of stocks, funds, commodities and even bonds or gilts. The “robo” element that some providers offer refers to them using technology to decide when to buy and sell investments, or where technology is used to help find a portfolio to suit you.
There are a few different types of portfolios that you’ll come across – these include:
- Fully managed portfolios: these have real people managing them. They buy and sell the investments in the portfolio to make sure they perform well and reflect the risk profile.
- Fixed allocation portfolios: these have been created by experts but aren’t managed day-to-day. They get rebalanced routinely to ensure they still fit your chosen risk profile.
- Ethical or responsible portfolios: these invest in companies that are aiming to improve the world, such as by not investing in weapons or fossil fuels — you can get both fixed allocation and fully managed ethical portfolios. You can see more about what makes the funds ethical or responsible from your chosen provider.
- Thematic collections: these are collections of funds that fit specific themes, such as technology, British, woman-owned, energy or sports. You would choose a few of these that match your own values to build a portfolio with little effort. These aren’t quite the same as managed portfolios, but they still allow you to passively invest.
Top picks
Customer rating
4.8/5
- Annual fee£0 with offer
- Minimum deposit£10
- Portfolios available30 themed funds, US, UK and EU stocks
- Offer£0 platform fee and £0 subscription fee*
- FSCS Protected Yes
- Transfer in existing ISA Only in cash
- Portfolios 30+ Themed Funds, ability to diversify with access to US, UK and EU shares from £10
- Interest on uninvested cash Yes (variable, see here for current rate)
- Platform fees £0 with offer
- Fund fees Variable depending on the fund selected. See fund documentation for specific charges. Other fees may apply.
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 955775
- Risk warning The value of investments can go down as well as up and you may get back less than you invest.
- Offer Open and fund a Quilter Invest account before 11:59pm on 30 November and receive £0 platform fee and £0 subscription fee. You need to use the code INVEST26 to get the offer. T&s apply. Other fees apply. Approved by Quilter Invest Ltd FRN 955775 25/09/2026
AJ Bell Dodl Stocks & Shares ISA
Customer rating
4.7/5
- Annual fee0.15%
- Minimum deposit£100 or £25 per month
- Portfolios available6 risk-based portfolios and a responsible investments portfolio
- OfferWaived fees for 1 year*
- FSCS Protected? Yes
- Other investment options You can also invest in individual shares and themed investments
- Interest on uninvested cash 3.8%
- Transfer in existing ISA? Yes
- Flexible ISA No
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 211468
- Risk warning Capital at risk. The value of your investments may go up or down
Customer rating
4.8/5
- Annual fee£1 per month + 0.15%
- Minimum deposit£1
- Portfolios available3
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Ready-made portfolios available Choose between three portfolios based on your preferred risk level: Cautious, Balanced or Adventurous
- Fees £1 monthly subscription fee (which covers all accounts you have with Moneybox), plus a service fee of 0.15%
- Fund fees If you choose to invest in Moneybox funds, you'll have to pay fund fees of 0.29%
- Access Can be opened and managed using the Moneybox app and on the website
- Authorised and regulated by the Financial Conduct Authority Yes, FRN 712935
- Risk warning Capital at risk. The value of your investments may go up or down
Other options
AJ Bell Managed Funds
Customer rating
4.4/5
- Annual fee0.25%
- Minimum deposit£25 per month or £250 lump sum
- Portfolios available5 growth funds plus responsible and global funds
- FSCS Protected? Yes
- Other investment options You can alternatively choose to create your own DIY portfolio
- Interest on uninvested cash 1.75%
- Transfer in existing ISA? Yes
- Flexible ISA No
- Fees When investing in AJ Bell managed funds, alongside the flat account charge, you’ll also pay an annual charge between 0.31%-0.45% for running the fund
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 155593
- Risk warning The value of your investments can go down as well as up and you may get back less than you originally invested
Chip Stocks & Shares ISA
Customer rating
4.9/5
- Annual fee0.25%
- Minimum deposit£1
- Portfolios available3 risk-based portfolios and two index funds
- FSCS Protected? Yes
- Transfer in existing ISA? Yes
- Flexible ISA Yes
- Interest on uninvested cash No
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 911255
- Risk warning Capital at risk. The value of your investments may go up or down.
Customer rating
4.9/5
- Annual fee0.25% (max £250 per year)
- Minimum deposit£1
- Portfolios available3 risk-based portfolios
- FSCS Protected? Your eligible investments are protected by the FSCS up to £85,000 per person per firm. This doesn’t cover losses incurred due to investment performance.
- Interest on uninvested cash No
- Fund fees You'll also have to pay fund fees of 0.14%. Management fees are dependent on what you invest in. See full fees breakdown on monzo.com/help/investments/investments-fees
- Transfer in existing ISA? Yes
- Flexible ISA Yes
- Other investment options You could alternatively choose to create your own portfolio.
- Authorised and regulated by the Financial Conduct Authority Yes: FRN 730427
- Risk warning You could get back less than you invest.
- Eligibility You need a Monzo current account to use Investments. UK residents 18+. Ts&Cs apply.
DIY vs managed: which is right for you?
Choosing between a DIY and managed Stocks and Shares ISA comes down to how confident you feel making investment decisions and how much time you want to spend managing your money.
A self-select or DIY ISA is likely a better fit if you:
- Have some experience investing, or are happy to learn
- Want to build your own portfolio of ETFs, index funds or individual shares
- Are comfortable monitoring and rebalancing your investments over time
- Want to keep costs as low as possible
A managed ISA is likely a better fit if you:
- Are new to investing and want expert guidance built in
- Don’t want to spend time picking or monitoring individual investments
- Are comfortable paying slightly higher fees for a hands-off approach
- Want a portfolio that automatically reflects your risk appetite
Not sure which route is right for you? Our guides to the best DIY stocks and shares ISAs and the best managed stocks and shares ISAs go into more detail on each option.
How to choose the best stocks and shares ISA
There’s no single best Stocks and Shares ISA for everyone – the right choice depends on your situation and investing goals. Here are the key things to consider:
Fees
Platform fees are one of the biggest factors affecting your long-term returns. Most providers charge either a flat monthly fee or a percentage of the amount you invest. Percentage fees tend to work out cheaper when you’re starting out with a smaller pot; flat fees often make more sense as your portfolio grows.
When we’re talking about DIY Stocks and Shares ISAs, you also need to take into account trading fees – as how often you buy and sell stocks, funds and other investments can change which option is cheapest for you.
Investment options
Make sure the platform offers the investments you actually want to hold. If you’re a beginner looking to invest passively through ETFs or index funds, most platforms will cover you. If you want to pick individual company shares or explore specialist assets, you’ll need to check more carefully.
Ease of use
Some platforms are built with beginners in mind, with simple interfaces and guided investment options. Others are more suited to experienced investors who want detailed data and trading tools. Think about which experience will suit you best – especially if you’re just getting started.
You should also look out for any educational tools to help you understand your investments better, or analysis tools to help you make decisions on what to buy or sell.
FSCS protection
Check that any platform you use is regulated by the Financial Conduct Authority (FCA) and covered by the Financial Services Compensation Scheme (FSCS). This means your eligible investments are protected up to £85,000 per firm if the provider goes bust. Note that FSCS does not cover investment losses.
Frequently Asked Questions (FAQs)
What is the best stocks and shares ISA?
There’s no single best Stocks and Shares ISA – it depends on your investing style, experience level and how much you plan to invest. If you want to pick your own investments, a DIY ISA from a low-cost platform is usually the best option. If you’d prefer experts to manage your portfolio, a managed ISA or robo-advisor will suit you better. Our summary tables above cover the top options in each category.
How much can I invest in a stocks and shares ISA?
You can invest up to £20,000 per tax year across all your ISAs combined – this is known as the ISA allowance. The full £20,000 can go into a stocks and shares ISA if you choose, or you can split it across different types of ISA, such as a Cash ISA or Lifetime ISA.
Is a Stocks and Shares ISA better than a Cash ISA?
A Stocks and Shares ISA has the potential for higher long-term returns than a Cash ISA, but your money is at risk and its value can go down as well as up. A Cash ISA offers a fixed or variable interest rate with no investment risk, making it better suited for shorter-term savings. For money you won’t need for five or more years, a Stocks and Shares ISA is generally considered a stronger choice for long-term growth.
Can I have more than one Stocks and Shares ISA?
Yes. Since April 2024 you can open and pay into more than one Stocks and Shares ISA in the same tax year, as long as your total contributions across all ISAs don’t exceed the £20,000 annual allowance.
Is my money safe in a Stocks and Shares ISA?
The platform itself is protected by the FSCS up to £85,000, which covers you if the provider goes bust. However, the investments inside your ISA carry market risk — their value can fall as well as rise, and you could get back less than you put in. This is why Stocks and Shares ISAs are best suited to long-term investors who can ride out short-term market volatility.
Expert thoughts on Stocks and Shares ISAs from Be Clever With Your Cash
Stocks and Shares ISAs can feel daunting if you’re new to investing, but they’re one of the most tax-efficient ways to grow your money over the medium and long term. The most important thing is to match the type of ISA to your situation – if you’re just starting out, a managed ISA or a simple ETF-based DIY account is usually the best place to begin, rather than jumping straight into picking individual company shares.
Fees matter more than most people realise. Even a seemingly small difference in annual charges can make a significant dent in your returns over ten or twenty years, so it’s worth spending time comparing platforms before you commit. A good rule of thumb: percentage-based fees tend to suit smaller portfolios, while flat fees work better as your pot grows.
Remember that your capital is at risk – no Stocks and Shares ISA can guarantee a return. But historically, staying invested for the long term has tended to smooth out the short-term ups and downs of the market. If you’re unsure whether investing is right for you, speaking to an independent financial adviser is always a sensible step.
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