HMRC wrapper passport
ISA Managers Guidance S&S EQUITY WRAP
#3/5 · £20,000 · market risk
According to gov.uk Individual Savings Accounts guidance and HMRC ISA Manager Guidance Notes (2026/27 tax year). See methodology for full sourcing.
- SETTLE T+2
- CAP 100%
- BOOK 5 wraps
- PHOTO Cash
Nearest allowance peer: Cash (£20,000)
According to PlainISA's HMRC ISA wrappers corpus, Stocks & Shares ISA ranks #3 of 5 HMRC ISA wrappers by annual subscription allowance (highest GBP = #1) and #5 of 5 by HMRC government bonus value (highest bonus_cap_gbp, £0 when none = #1). This wrapper uses 100% of the £20,000 combined adult allowance. Best fit: Long-term goals (5y+), retirement, wealth building. Not ideal for: Emergency fund, sub-5y goals. How we place wrappers → · Verify with HMRC →
S&S in the allowance neighbourhood
Annual subscription limit among this wrapper and nearest nationwide peers
S&S long-run performance
Annualised return by holding period, inflation-adjusted
Real (inflation-adjusted) annualised return over each trailing period, not a forecast. Past performance does not predict future returns. A negative value means the return trailed inflation over that period.
S&S vs the other wrapper we track, by horizon
Across every horizon we track for both wrappers, the lowest real return is UK Cash ISA (real, proxy) · 5y at -0.5% per year, and the highest is FTSE All-Share Total Return · 30y at 5% per year.
Real annualised return by holding period, both wrappers: FTSE All-Share Total Return · 30y, 30 years, 5% real annualised return. FTSE All-Share Total Return · 20y, 20 years, 4.6% real annualised return. FTSE All-Share Total Return · 10y, 10 years, 4.2% real annualised return. FTSE All-Share Total Return · 5y, 5 years, 4.2% real annualised return. UK Cash ISA (real, proxy) · 30y, 30 years, 0.4% real annualised return. UK Cash ISA (real, proxy) · 20y, 20 years, 0.3% real annualised return. UK Cash ISA (real, proxy) · 10y, 10 years, 0.1% real annualised return. UK Cash ISA (real, proxy) · 5y, 5 years, -0.5% real annualised return.
Rules at a glance
| Attribute | Stocks & Shares ISA | Source |
|---|---|---|
| Annual allowance | £20,000 | gov.uk ISAs |
| Government bonus | None | HMRC ISA Manual |
| Age eligibility | 18+ | HMRC ISA Manager Guidance |
| Risk band | medium-high | FCA Conduct of Business |
| Typical return | 5.1% | FTSE All-Share TR Index 1985-2024 real |
| FSCS protection | Protected up to £85,000 per banking authorisation | FSCS |
| Withdrawal rules | Withdraw any time (sell + T+2 settlement). | HMRC ISA Manual |
| Transfer rules | In-specie or cash transfer permitted. | HMRC ISA Manual |
| Tax treatment | Interest, dividends, capital gains exempt from UK Income Tax and CGT | Income Tax Act 2007 s.694 |
Table sources: gov.uk Individual Savings Accounts, HMRC ISA Managers Guidance Notes, Income Tax Act 2007 s.694.
Mid-band wrappers near Stocks & Shares ISA
Stocks & Shares ISA is FSCS-eligible deposit territory at allowance rank #3/5. Peer sets below split annual-limit neighbours from zero-bonus wrappers.
Similar annual allowance
Nearest wrappers by £20,000 subscription limit.
Similar HMRC bonus cap
Nearest wrappers by government bonus cap value (no HMRC bonus here).
Peers are nearest-neighbor matches across all 5 HMRC ISA wrappers in this database; corpus ranks above sort the full set.
Not financial advice - methodology · compare wrappers · HMRC source.