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Change the M&G product in which you have invested

As an M&G customer, you are already making the most of the potential advantages of investing in the stockmarket. However, if your current fund(s) are doing well, it is likely that you have to give the taxman a cut. But there is a way to help avoid paying a penny in personal income tax or Capital Gains Tax (CGT) on any capital growth you make in your M&G investment. It’s called an Individual Savings Account (ISA).

It's easy to sell your existing M&G OEIC (Open-Ended Investment Company) or M&G Unit Trust and reinvest the proceeds into an M&G ISA. Please always remember to read the most up-to-date Key Investor Information Document for each fund you wish to invest in, alongside the Important Information for Investors document before you switch. 

How to switch online

You must be registered for ‘My Account’ to switch between products online and we recommend you confirm any charges applicable to your switch by calling our website Helpline on 0800 316 6570* and by reading the relevant Key Investor Information Documents before making your transaction.

To switch online, you will need your: 

• National Insurance number (if investing in an M&G ISA for the first time);
• Bank account and sort code (if you want any income from your investment paid out to you); and
• Direct debit details (you’ll be prompted to change any existing arrangements). 

Onscreen instructions are provided to guide you through your switch. You can also click on ‘how this amount is calculated’ to view examples of switching discounts and charges.

Providing instructions are received before 12 noon (the M&G valuation point) on a business day, you will receive that day’s price. Instructions received after 12 noon will receive the next business day’s price.

How to switch by post

Simply download the Withdrawal Form and the M&G ISA Application Form from our online literature library, then read the relevant Key Investor Information Document alongside the Important Information for Investors document. Complete and sign the forms we send to you and return them to us at the freepost address provided.

Important information

• Under HM Revenue & Customs regulations, we cannot transfer your existing investment as stock straight into The M&G ISA. Instead, we need to sell your shares/units and reinvest the sale proceeds into your choice of ISA fund(s). You should note that your investment will be out of the market between the sale of your existing fund(s) and the purchase of your new fund(s) on the following business day.
  
• HM Revenue & Customs will treat this as a new ISA investment and, as such, it will be counted as part of your ISA allowance for the relevant tax year.
  
• The sale of your existing investment will count as a disposal for CGT purposes. When the sale proceeds are reinvested in full, any CGT liability will have to be met from other resources.

*All calls are free within the UK. For security purposes and to improve the quality of our service, we may record and monitor telephone calls. Existing customers will require their M&G client reference. Failure to provide this will affect your ability to transact with us.

Next steps

The M&G ISA

Find out about 'My Account'

Contact us

Download literature

ISA application form (524 KB)

You will require Adobe Acrobat to view these pdf.