Only an HMRC-Approved Provider Can Offer an ISA
An ISA is not an investment in its own right. It is a tax-free account that holds cash or investments, and HMRC decides which firms may manage one. In the 2026 to 2027 tax year you can pay up to £20,000 into your ISAs in total.
HMRC publishes its list of approved ISA managers on GOV.UK and updates it on the first working day of each month. A provider offering you an ISA should appear on that list under its registered name.
HMRC Approval Is Not an Endorsement of the Firm
HMRC is clear that approving an ISA manager is not an endorsement of the firm or its products. The list confirms that a provider may manage ISAs, but it does not tell you whether a product suits you or how much risk your money would carry.
The provider should also be authorised for the work it does, so look for its entry on the FCA Register as well. A bank or building society offering a cash ISA, and a firm offering a stocks and shares ISA, should each have an entry there showing their permissions.
Treat ISA Comparison Websites With Caution
Fraudsters use the word ISA because savers associate it with security and tax-free growth. The FCA has published warnings about websites presenting themselves as ISA comparison services, among them Compare ISA UK and Fixed Rate ISA Compare, neither of which was authorised.
Whichever website you start from, the account should be opened with a provider you can find on HMRC's list and on the FCA Register, and your money should be paid to that provider and nobody else.
Transfer an Existing ISA Through Your New Provider
To move an ISA, GOV.UK advises contacting the provider you want to move to and completing its transfer form, so that the money passes from one provider to the other. If you withdraw the money yourself instead, you cannot pay that part of your tax-free allowance back in.
Be wary of anyone who asks you to withdraw your savings and send them on to a new account yourself, because a transfer arranged by the new provider never requires you to handle the money.
Confirm the Account Name Before You Pay In
Before you pay into a new ISA, use your bank's Confirmation of Payee check to confirm that the account is held in the exact name of the provider you found on HMRC's list. If an approach worries you, report it to the FCA on 0800 111 6768.
How MetaAshes Examines This
A MetaAshes assessment cross-references a firm's details against the official record in a single pass. For this question, the most relevant checks include:
- ISA manager approval
- Authorisation status
- Scope of regulatory permissions
- Official website on record
- Official telephone number on record
- Email domain consistency
- FCA Warning List screening
- Payee name verification
Frequently Asked
How do I know if an ISA provider is genuine?
Find the provider on HMRC's list of approved ISA managers on GOV.UK and on the FCA Register, and confirm that the account you are paying is held in the provider's exact name.
Does HMRC approval mean an ISA is risk-free?
No. HMRC states that approving an ISA manager is not an endorsement of the firm or its products, and the value of an investment held in an ISA can fall.
Can MetaAshes check an ISA provider?
Yes. An assessment checks the provider against HMRC's list of approved ISA managers and the FCA Register, and compares the contact and payment details you were given with its record.
This guide is provided for general information and does not constitute financial or legal advice.