This document is for you, a potential Beach customer, and is to give you an overview of the most important details of a Beach ISA, which is held within your ‘easy access pot’.
Hopefully you'll find it easy to read and understand, and it’s here to help you make an informed decision.
The Financial Conduct Authority (FCA), which is a financial services regulator, asks that Beach provide you with this document – it’s important, so please read it carefully and ensure you understand everything about our ISA before opening an account.
We encourage you to keep a copy yourself, and we’ll keep a copy of it on our website (beach.org) for you to refer back to whenever you like. If there’s any questions, get in touch with our friendly team via [email protected].
If you are unsure about the risks involved investing within an ISA, and have questions, contact our friendly team via [email protected].
An ISA, which stands for Individual Savings Account, is a government scheme to help you save for your future, and any money you make within one is completely tax-free.
For instance if you saved a total of £5,000 in your ISA and it increases to £10,000 later on, you get to keep it all, and you won’t pay any tax on the money you’ve made.
The tax you might otherwise pay is Capital Gains Tax (if an investment increases in value), Income Tax (if an investment pays an income, such as interest), and Dividend Tax (if a company pays its profit to shareholders).
You can save up to £20,000 per tax year (April 6th to April 5th the following year), and this total applies across all of your ISA accounts (if you have more than one). So you could save £10,000 each into two ISAs, but not £20,000 into each (per tax year).
You can have as many ISAs as you like, and open them at any time (except Lifetime ISAs, where you can only save into one each tax year, and only save up to £4,000 per tax year. Your remaining £16,000 ISA allowance could be used for other types of ISAs).
With Beach, you can withdraw money and then add the same amount back into your ISA without affecting your annual allowance, as long as you do so within the same tax year.
The tax rules could change in future.
With Beach, within your ISA, your money is invested so it has the opportunity to grow larger over time, all tax-free (the investment plan is covered below).
A Beach ISA is for people who want to save for their future in a straightforward, tax-efficient way. And, making decisions themselves from a single ISA plan option (investment range) designed for long term investing.
You’ll need to be over the age of 18, and be a UK tax resident.
No, we cannot offer you advice based on your personal circumstances, which includes investment, tax and any money related matters. You will need to make your own decisions. If you think you’d benefit from advice, you should speak to a suitably qualified financial advisor.
You’ll pay an annual fee to Beach of 0.75% of the value of your ISA balance per year.
A minimum fee applies across the total balance of your Beach account (for instance if you also have money in a pension pot, this is included, which reduces the likelihood of this fee being applied). This is £4.99 per month.
You will either pay 0.75% or the minimum fee of £4.99 per month, not both, depending on the balance across your whole Beach account.
This covers all the costs associated with your ISA, such as payments (adding money), trading (buying the investments on your behalf) and custody (holding your investments safely and securely). Plus all the admin behind the scenes.
This will be collected from your Beach account balance in monthly instalments, based on the daily value of your balance. You don’t need to make a payment from your bank account.
As an example, if you have a total Beach balance of £10,000, you’d pay 0.75% of the value across the course of a year, which is £6.25 per month (£75 per year). If instead, you had a total Beach balance of £5,000, your monthly fee would be £3.13 per month (£37.50 per year), and so you would instead pay the minimum fee of £4.99 per month.
You will also pay a fee within the investment itself, within your ISA account (called an investment fund), which is 0.17% per year of your investment value. This is a fee to the investment fund manager (not Beach), and is taken automatically from the fund itself. Although unlikely, this fee could vary slightly.
Beach (Beach Finance Ltd) is authorised and regulated by the Financial Conduct Authority (FCA), which means we’ve been reviewed against strict criteria, and approved to arrange your ISA and investments, ensuring that your money is safe and secure, and we are continually reviewed.
Your investment plan is managed by BlackRock, the largest investment company in the world, with your ISA held all in your name, and can only be returned to you. Nobody, not even us, can access your money within your account. Should anything happen to BlackRock themselves, or Beach (such as going out of business), your ISA and money would still exist, and would be returned to you (or transferred to a new provider).
For added security, you are also protected by the Financial Services Compensation Scheme (FSCS), which provides compensation up to £85,000 should any money not be returned to you. You can learn more about this on the FSCS website.
However, it’s important to understand your ISA can fall in value as well as rise due to investment performance. This is part of how investments work over time and ups and downs should be expected.
For your ISA, the investment plan (investment option) available to you is the investment fund ‘MyMap 5 Select ESG’.
As a summary, this is an investment designed for long term, continual growth over time, in a risk-managed way, and consists of a wide range of underlying investments (assets) from around the world.
The plan also has a focus on improving the world where possible, such as fighting climate change through lower carbon emissions (alongside long term growth).
It is managed by expert investors, the largest investment company in the world, BlackRock.
The investment manager is authorised by The Financial Conduct Authority, and will manage the investments in line with the objectives of the fund (to grow your savings over time in a suitably risk-managed way).
We have provided information on the investment plan within the app during the sign up process (such as a factsheet and other documents and information provided by the investment manager), please ensure you review and understand these as it is your responsibility to decide if the plan is right for you. These documents will be saved within your account to review at any time too.
To check the value of your ISA, you can log into the app at any time to get an up-to-date overview of your balance.
As this is an ISA just for you, only you can pay into your account.
Yes. Each time you top up your account, it will need to be a minimum of £25.
Yes, with Beach, you can only add money that is eligible for tax benefits.
The most you can contribute to your ISA per tax year is £20,000.
You can still save more per year into your Beach easy access account, which can be saved into your standard account. This has no savings limits, so you can add as much as you like, but it does not have tax-free benefits. You may pay tax on the money you make when you later sell your investments (withdraw money).
You could also consider saving more into your pension pot, to boost your retirement savings.
These tax rules could change in the future.
Yes, you can withdraw money from your ISA whenever you want to. You can do this within the app.
You can withdraw as little as £1, or as much as you like – although bear in mind, the more money you withdraw, the less your ISA could be worth in the future.
When you withdraw, some of your investments will be sold to cover the amount you’re withdrawing. This means that it may take around 10 days to receive the money into your bank account.
Yes, our ISA is ‘flexible’, meaning you can withdraw money from your ISA and then add the same amount back into your ISA without the money reducing your annual ISA allowance (£20,000), as long as the money is re-added during the same tax year (April 6th to April 5th the following year).
Yes, you can transfer an existing ISA to Beach, however it will need to be a Cash ISA, a Stocks and Shares ISA (sometimes called an investment ISA), or an Innovative Finance ISA. We can’t accept Lifetime ISAs.
Transferring an ISA is straightforward – all you need to do is open your Beach account, head over to “Settings”, then “Transfer an ISA to Beach”. From there, fill in a few details such as which provider it’s with and that’s it, we’ll arrange the transfer and your ISA will arrive within your Beach account after a few weeks (it could be longer depending on the existing provider’s processes).
Your existing ISA will be transferred as a cash amount and then invested within your investment plan.
This doesn’t count towards your annual ISA allowance (the £20,000 limit), so you can still save up to £20,000 into your ISA, unless you have contributed to your existing ISA this tax year (you can still save the remaining amount).
Yes. You can transfer your Beach ISA to another provider if you want to. You’ll need to get in touch with your new provider, and they’ll get in touch with us to transfer it. We don’t charge any fees for this.
We’ll transfer your ISA as a cash amount (e.g. £10,000), which means your investments will be sold before transferring. This should take a few weeks, but can be a few months depending on the circumstances.
Your ISA will still remain as is for a short while, and has the opportunity to continue to grow tax-free over time until the administrator of your estate passes the money to your family or whoever you have specified in your will (if you have one). They may have to pay Inheritance Tax on your estate, which includes your ISA.
If this takes a long time, after 3 years, your ISA will be closed, and will remain at that value.
If you have a spouse or civil partner, it may be possible to transfer your ISA, or add the value of your ISA to their ISA, as their annual allowance will increase temporarily by the value of your ISA in order to add the money, so they can continue to benefit from the tax-free saving.
If you move abroad, and therefore your tax status changes away from a UK resident, you will be able to keep your ISA as it is, but you will be unable to add more money. This applies from the tax year after you move.
You will still be able to transfer your ISA to another provider if you want to.
If you return to the UK, you can then begin to save into your ISA again.
Please let us know if you move abroad and stop becoming a UK resident.
Yes absolutely. We’ll be sorry to see you go, but you can cancel your ISA within 30 days of opening your ISA account (easy access pot), which you can do within the app, or contact us at [email protected]. No fees will be charged.
Any money you have added will be returned to you, this may involve selling your investments, which could have a different value than when you initially added money and invested. Meaning you may get back more or less than you added.
If you’ve made a request to transfer your ISA to Beach, but have changed your mind, you also have 30 days to cancel the transfer, from when the transfer is complete (this can be any time after you have opened a Beach account, and you don’t need to close your Beach account).
We’ll ask your previous ISA provider to cancel the transfer, or if we’ve already received it, ask if they are able to receive the ISA back (we’ll let you know if they are unable to).
We pride ourselves on providing the best service possible, and your satisfaction is incredibly important to us – so if you’re not happy with any aspect of Beach, please get in touch with us at [email protected] and we’ll aim to put things right as soon as we can.
We aim to resolve most complaints within 3 working days where possible. If it’s a bit more complicated that requires a bit more investigation and time, we’ll let you know.
If you’re not happy with the outcome of our investigation, you can make a complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is a free service to resolve complaints fairly. Here’s how to contact them:
Online: financial-ombudsman.org.uk
Email: [email protected]
Letter: The Financial Ombudsman Service Exchange Tower, London, E14 9SR
Phone: 0800 023 4 567 (free), weekdays from 8:00am–8:00pm, and on Saturday from 9:00am–1:00pm
You’ll have 6 months to make a complaint to the Financial Ombudsman Service after you’ve received the outcome of our own investigation.
You can find further information about making a complaint with our guide to making a complaint.
The information provided in this key features document is based on our understanding of the current law, practice and taxation, which may be subject to change. The law of England and Wales will apply in all legal disputes.
© 2023-2025 Beach Finance Ltd.
When investing, your capital is at risk. The value of your investments can go down as well as up, so you may get back less than you put in. Tax treatment depends on your individual circumstances, and could change in the future. You should seek financial advice if you are unsure about investing.
Beach®️ is a registered trademark owned by Beach Finance Ltd.
Beach (Beach Finance Ltd) is authorised and regulated by the Financial Conduct Authority (1010244), and registered in England and Wales (14969609).
