Why choose the Unit Trust ISA?
A simple, transparent stocks and shares ISA from Wesleyan Unit Trust Managers (WUTM), the Unit Trust ISA lets you invest in a range of risk-rated funds, each expertly managed on your behalf.
- Save up to £20,000 in the 2023/2024 tax year
- Pay no income tax or capital gains tax on your investment returns
- Take your pick from six funds to suit your own appetite for risk
- Leave your investment in the hands of award-winning Fund Managers
- View your portfolio online at any time
Dealing costs and ongoing charges will apply. If you take advice from a Specialist Financial Adviser from Wesleyan Financial Services, an initial advice charge will also apply.
Bear in mind all investments can go down as well as up, and you may get back less than you put in.
Investment Team of the Year 2023After winning Responsible Investor of the Year at the Insurance Asset Risk Awards 2022, Wesleyan's investments team was named Investment Team of the Year in 2023. When you invest with WUTM, you can be confident your money is managed by the same safe hands.
A choice of funds
Risk Averse Fund
Low Risk/Reward Growth Fund
Moderate Risk/Reward Growth Fund
Moderate-High Risk/Reward Income Fund
UK Growth Fund
International Growth Fund
Got a question about the Unit Trust ISA?
Call us on 0808 258 4480. We're open Monday to Friday, 9am - 5pm.
Want to transfer in from an existing ISA?
You’ll need to book an appointment with a Specialist Financial Adviser from Wesleyan Financial Services (initial advice charge applies).
Frequently asked questions
What is a Unit Trust ISA?
A Unit Trust ISA is a type of stocks and shares ISA, invested in our Unit Trust funds. Unit Trust funds are split into a large number of equal units, and those units are effectively what you’re buying when you pay into your ISA.
The value of the units can then rise or fall depending on the performance of the fund’s underlying assets.
Am I eligible for a Unit Trust ISA?
You can take out a Unit Trust ISA if you are a UK resident for tax purposes and aged 18 or over, and have not already paid in to a different stocks and shares ISA in the current tax year.
With no upper age limit on applications, it’s an ISA for all generations of investor.
How much can I pay into a Unit Trust ISA?
Each tax year (6th April to 5th April), there’s a certain amount of money you’re allowed to save into ISAs. For the tax year 2023/2024 that allowance is £20,000.
Just be aware that tax rules for ISAs can and do change, so the allowance may vary from year to year. Remember too that if you don’t use your full allowance during the tax year, you won’t be able to carry any over.
How do I save into a Unit Trust ISA?
You can open your account with a one-off payment (minimum £1,000). Once you have a plan in place, you can set up a monthly subscription (minimum £50 per month). You can top up your account at any time, up to the maximum ISA allowance of £20,000 for the 2023/2024 tax year.
For ad-hoc top ups, you’ll need to put in at least £500, or £250 per fund if you’re investing in multiple funds.
If you want to increase a monthly Direct Debit payment, you’ll need to put it up by at least £10.
Can I transfer my existing ISA to the Unit Trust ISA?
Yes, you can transfer an ISA to us from another provider, as long as you’re transferring at least £500.
At the moment, we can only accept transfers that have been advised by a Specialist Financial Adviser from Wesleyan Financial Services. An initial advice charge of 3% will therefore apply to the sum you transfer.
Are additional permitted subscriptions (APS) available on this ISA?
Additional permitted subscriptions (APS) can give an increased ISA allowance to the surviving spouse or civil partner of a deceased investor.
The Unit Trust ISA doesn’t have an APS facility at present, but Wesleyan Assurance Society’s Stocks and Shares ISA does, so it may be worth a look if this issue affects you.
Things to know before you apply
When you open your investment account online, you will not receive any investment advice or personal recommendation from us. Please therefore make sure you read the important information and key documents below, and any documents presented to you during your application.
When you invest in a Unit Trust ISA, there are some management and dealing costs (circa 1%) to pay. These costs are shown as Ongoing Charge Figures (OCFs). The latest OCFs for each fund can be found in the Key Investor Information Documents above.
If you are opted in for the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, please note an additional 0.5% will be added to the OCF charge.
ISA and tax rules summary
The WUTM Unit Trust ISA is a stocks and shares ISA. You can hold multiple ISAs at the same time, but please note you can only contribute to one stocks and shares ISA in a tax year. In total, you can save up to £20,000 in ISAs in the 2023/2024 tax year.
To apply for a Unit Trust ISA, you must be a UK resident for tax purposes.
You'll pay no personal income tax or capital gains tax on your investment returns from the Unit Trust ISA. This is based on current understanding of legislation and tax treatment, which can change in the future.
Before you apply to open a Unit Trust ISA, please read the following documents:
- Key Features Document (non-advised applications) PDF (2MB)
- Key Features Document (advised applications) PDF (6.2MB)
- Terms and Conditions PDF (426KB)
Please also read the latest Key Investor Information Document (KIIDs) for any fund(s) you’re considering investing in. These can be found above.
If you are already investing with us and have opted into the Ongoing Advice Service (OAS) provided by Wesleyan Financial Services, the appropriate 'B' unit class KIIDs are available through the WUTM Investor Portal.