LAST CALL: Get up to 80,000 Avios when you open an ISA or SIPP via Nutmeg

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This is an advertisement for Nutmeg Saving and Investment Limited (“Nutmeg”). Nutmeg has agreed to pay the publisher an award for new customers acquired via the promotion of its services on this site.  Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority

With the end of the tax year approaching on Thursday, there is still a window to open a stocks and shares ISA for 2017/8 with Nutmeg and earn a large chunk of Avios.

If you have already used up your 2017/8 allowance, there is also a very tiny window to subscribe for 2018/9.  The offer runs until midnight on 8th April so you have three days – between the 6th and 8th April – to use your new allowance for the new tax year.

For every £1 invested you will receive one Avios, up to a maximum of 80,000 Avios, when you open an account with Nutmeg before 8th April 2018.

(80,000 Avios would only apply if you were opening a SIPP or general investment account, as the ISA limit is £20,000.  You should also note that you cannot open an ISA in both the 2017/8 and 2018/9 tax years and get Avios for both, as you only receive Avios on your first investment.)

Full details are on the Nutmeg website here.

What is Nutmeg?

As I wrote back in December, when this offer last ran, Nutmeg is an online wealth management service which offers intelligent investment portfolios to anybody with just £500 to invest, with additional monthly contributions of at least £100.

Your money will be invested in what the company calls a robust, diversified portfolio that spreads risk across asset classes, geographies and industries. YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016 and 2017.  The company now has over £1 billion of assets under management and over 50,000 investors.

The Financial Times ran an article in January 2017 on how Nutmeg fees compare with similar products – google “Nutmeg to cut charges as robo competition intensifies” to find it.  I cannot share a direct link as it triggers the FT paywall.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA of just £500 as long as you make additional monthly contributions by direct debit of at least £100. You can also make an initial lump sum contribution of £5,000 or more with no direct debit contributions required.

For those opening a pension the minimum is £5,000 with no direct debit contribution required.

What is the maximum I can invest?

SIPP:  for a pension, Nutmeg will award one Avios point per £1 on initial investments up to £80,000. You can invest more but the Avios reward is capped at 80,000 points.

ISA:  the maximum you are allowed to invest in an ISA in a tax year is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a general investment account.

Please note that Avios points are not awarded for customers opening a Lifetime ISA.

The ISA limit for both 2017/8 and 2018/19 will be £20,000.  Because the tax year ends at midnight on 5th April, you need to open and fund your account by then if you want to use your 2017/8 allowance.  Any investments made from 6th April will count towards your 2018/19 ISA allowance.

This offer is valid for invested accounts opened and funded before 8th April 2018.

How many Avios will I receive?

You will receive one Avios point per £1 invested.

However, it is important to note that the offer is only open to new Nutmeg customers. A ‘new customer’ is defined as someone who has not previously invested with Nutmeg.

You receive Avios based on your INITIAL deposit only.   If you deposit £20,000 in an ISA today and another £20,000 on 6th April for the new 2018/19 year, you will only receive 20,000 Avios.

When do I receive my Avios?

Your bonus can be credited to either an or British Airways Executive Club account. You will receive your Avios within 45 days of making your initial investment.

If you make a withdrawal or close your Nutmeg account within 18 months, Nutmeg reserves the right to withdraw approximately 1p per Avios awarded from the closing balance before returning funds.  The exact amounts are listed in the terms and conditions.

How do I apply?

You need to sign up and invest via this special landing page to earn Avios. Applications via the standard Nutmeg home page will not earn any points.

Remember, as with all investing, that your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. ISA and pension rules apply.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

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  1. Lucinda Hearth says:

    From the T&Cs it looks as though you get Avios on TOTAL funding made to the account between March 12th and April 8th which would imply that you can use both tax years ISA allowance and get 40,000 Avios, not the 20,000 you say it is capped at. Could you confirm where your information came from? Thanks!

  2. Last time I looked into this the info on their web pages was contradictory. I asked them to clarify which was right. Eventually the more generous interpretation was confirmed but by that time I had decided to put my money elsewhere!

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