Interactive Investor (ii) is the UK’s second-largest DIY investment platform by assets under administration, serving more than 400,000 customers. It holds stocks and shares ISAs, self-invested personal pensions (SIPPs), trading accounts, and Junior ISAs. When a client dies, there is a formal bereavement process to notify ii, freeze the accounts, and arrange for assets to pass to the estate or named beneficiaries.
The process differs depending on which accounts the deceased held. An ISA forms part of the estate; a SIPP almost always does not. Both carry distinct tax rules and documentation requirements. This guide sets out every step, so you know exactly what to do, what to prepare, and what to expect.
Quick reference:
- Bereavement phone: 0345 607 6001 (Monday–Friday, 8am–6pm)
- Bereavement guidance: ii.co.uk – account holder has passed away
- Small estate threshold: £50,000 for non-pension assets (no Grant of Probate required below this)
How to notify Interactive Investor
The most direct way to begin is by phone. ii does not require you to have all your paperwork ready before calling – the first call is to register the death, and ii will explain what is needed next.
By phone
Call 0345 607 6001 to reach ii’s client services team and request the bereavement process. Lines are open Monday to Friday, 8am to 6pm. If you are calling from a mobile, note that 0345 numbers are charged at standard geographic rates and will typically be included in any inclusive minutes allowance.
When you call, have the following to hand if possible:
- The deceased’s full name, date of birth, and last known address
- Their date of death
- Any ii account or reference number – found on statements or correspondence from ii
- Your own full name, contact details, and your relationship to the deceased
If you do not have account numbers, ii can search their records using the deceased’s name and date of birth. If the person held more than one type of account – a SIPP alongside a stocks and shares ISA or trading account – tell the team at the outset so that all accounts are flagged simultaneously.
Online
ii provides a bereavement guidance page at ii.co.uk which outlines the process and the documents required. This can be used to prepare before calling or to submit initial information in writing.
What happens immediately after notification
Once ii is notified, a hold is placed on all of the deceased’s accounts. No further dealing, withdrawals, or new instructions can be placed. Any income generated by investments – dividends on shares or interest on cash – continues to be applied to the account during administration. The freeze protects the estate against any unauthorised transactions while the process runs.
ii will confirm the accounts held and outline the next steps in writing.
What documents you will need
The documents required depend on which products the deceased held and the total value of non-pension assets. The table below covers the most common situations.
| Document | When required |
|---|---|
| Death certificate (original or certified copy) | Always – required for all accounts |
| Your name, address, and relationship to the deceased | Always |
| ii account or reference number | Helpful but not essential for initial contact |
| Grant of probate or letters of administration | For non-pension assets above £50,000 |
| Certified copy of the Will | For small non-pension estates below £50,000 (in lieu of probate) |
| Completed ii bereavement claim form | Supplied by ii after initial notification |
| Expression of wishes or nomination form | For SIPP death benefits – if the deceased completed one |
Death certificate copies. Each financial institution requires its own original or certified copy of the death certificate. A single copy cannot be passed between organisations. If the deceased held accounts at multiple banks, platforms, or pension providers, order four to six certified copies when you register the death. Certified copies cost £11 each from the register office in England and Wales. Source: gov.uk – order a death certificate.
Who can certify documents. Where ii requires a certified copy rather than an original, the certification can be provided by a solicitor, bank official, notary public, or another authorised professional. The certifier must sign and date the copy and include their professional details.
Probate or letters of administration. For non-pension assets above £50,000, ii requires the original Grant of Probate (in England and Wales) or Confirmation (in Scotland) before acting on instructions from the executor or administrator. If the deceased died intestate and there is no Will, Letters of Administration are required instead.
What happens to ii accounts
Stocks and shares ISA
A stocks and shares ISA with ii forms part of the deceased’s estate. Once ii is notified, the account is frozen and no new subscriptions can be made. The investments do not immediately lose their tax protection: HMRC rules allow an ISA to continue as a “continuing account” – sheltered from income tax and capital gains tax – until whichever happens first: the executor closes it, estate administration is complete, or three years and one day pass from the date of death. Source: gov.uk – ISA allowance when someone dies.
The value of the ISA does count toward the estate for inheritance tax purposes.
Additional Permitted Subscription (APS) for surviving spouses
A surviving spouse or civil partner who was living with the deceased at the time of death is entitled to an Additional Permitted Subscription (APS). This is an additional ISA allowance – on top of the standard annual allowance of £20,000 for 2025/26 – equal to the value of the deceased’s ii ISA at the date of death.
The APS means the surviving spouse can invest the equivalent of the deceased’s ISA without it counting against their own annual allowance. Deadlines apply:
- Cash contributions: within three years of the date of death, or within 180 days of the completion of estate administration, whichever is later
- In-specie transfers (moving investments directly rather than as cash): within 180 days of beneficial ownership passing to the surviving spouse
The APS allowance does not have to be used with ii. The surviving spouse can apply the allowance with any ISA provider of their choice. However, if they wish to transfer investments in specie rather than cash, both accounts must be held with ii.
Source: gov.uk – manage additional permitted subscriptions into an ISA, verified May 2026.
For broader context, see our guide to what happens to an ISA when someone dies.
SIPP (self-invested personal pension)
The pension sits outside the estate
An ii SIPP is held in a discretionary trust. It does not automatically form part of the estate when the account holder dies. Instead, ii’s trustees review the deceased’s expression of wishes (nomination of beneficiaries form) and use their discretion to determine who receives the pension.
Because the pension sits outside the estate, no Grant of Probate is required for ii to pay SIPP death benefits to beneficiaries. If the deceased never completed a nomination form, ii’s trustees will need to make their own enquiries – which takes longer and may produce a different outcome from the deceased’s wishes.
Beneficiaries of an ii SIPP have three choices:
- Lump sum – the full pension value is paid as a cash payment
- Inherited drawdown – the pension remains invested and the beneficiary draws income flexibly over time
- Annuity – the fund is used to purchase a guaranteed income product
Tax treatment by age at death
| Age at death | Tax treatment for beneficiary |
|---|---|
| Under 75 | Lump sum and drawdown withdrawals are normally tax-free, provided the beneficiary’s entitlement is established within two years of ii being notified |
| 75 or over | All death benefit payments are taxed at the beneficiary’s marginal income tax rate (20%, 40%, or 45%) |
Source: gov.uk – tax on a private pension you inherit, verified May 2026.
The two-year window for tax-free payment runs from the date ii is notified of the death, not the date of death itself. Prompt notification protects the tax-free status of death benefits where the deceased was under 75.
For a broader explanation of pension death benefits, see our guide to what happens to pensions when someone dies.
Trading accounts
An ii trading account (general investment account) forms part of the deceased’s estate and is subject to probate and estate administration rules. Once the estate process is complete, the executor or administrator can either:
- Transfer assets in kind to a trading account in the beneficiary’s own name, or
- Liquidate the holdings and distribute the proceeds as cash
The same probate threshold applies as for the ISA: non-pension ii assets below £50,000 do not require a Grant of Probate.
Junior ISA
If the deceased was a registered contact or parent guardian for a Junior ISA held with ii, the account does not automatically close. Another parent or guardian can take over responsibility for the account. If the child is the account holder, the JISA continues and is not affected by the death of the parent or guardian – the funds remain invested and ring-fenced for the child until they turn 18. Contact ii directly to update account responsibility details.
Probate and thresholds
Whether probate is required for ii assets depends on the account type and the total value of non-pension holdings.
Non-pension assets below £50,000 – small estate route
Where the total value of non-pension assets held at ii falls below £50,000, ii does not require a Grant of Probate. A certified copy of the Will is typically accepted in its place. Where there is no Will, ii will advise on the specific documentation required.
Non-pension assets above £50,000 – Grant of Probate required
Where ii non-pension holdings exceed £50,000, the original Grant of Probate (or Letters of Administration) is required before ii will act on instructions from the executor or administrator.
SIPP – no probate required
ii does not require a Grant of Probate to distribute SIPP assets. The pension bypasses the probate process entirely because it sits outside the estate in a discretionary trust.
If you are in the process of applying for probate, our guides on how long probate takes cover current Probate Registry waiting times.
Pensions and the April 2027 inheritance tax change
Under current rules (for deaths before 6 April 2027), pension assets – including unspent SIPP funds held with ii – are generally outside the estate for inheritance tax purposes. This has made SIPPs a popular long-term planning vehicle: pension funds left unspent could pass to beneficiaries free of inheritance tax.
From 6 April 2027, the UK government has confirmed that most unspent pension funds will be brought within the scope of inheritance tax. Estates affected by a death on or after that date will need to account for pension assets when calculating whether the inheritance tax nil-rate band has been exceeded. The government has committed to a mechanism to reduce double taxation (income tax and inheritance tax applying to the same pension funds), but the precise rules are still subject to consultation.
This change does not affect estates of people who have already died before 6 April 2027. If you are dealing with a current bereavement, ii SIPP assets still sit outside the estate for inheritance tax purposes – provided the date of death is before that date.
Source: gov.uk – inheritance tax on unused pension funds and death benefits, published 2024. See also our inheritance tax guide for broader context.
How long it takes
ii’s bereavement process typically runs in three phases:
Phase 1 – initial notification (1–5 working days) ii logs the death, places holds on all accounts, and sends you confirmation along with an estates information pack and bereavement claim form. Any original documents supplied will be returned at this stage.
Phase 2 – document submission and review (2–4 weeks) You complete and return ii’s claim form, along with any required legal documents – probate, Letters of Administration, or Will for small estates. For SIPP accounts, ii’s trustees review the nomination and determine how death benefits should be distributed. Complex cases – where no nomination form exists or where the beneficiary situation is unclear – take longer.
Phase 3 – asset distribution (1–3 weeks) Once ii accepts the completed paperwork, assets are transferred or liquidated and distributed to executors or beneficiaries.
In total, from notification to final distribution, the process typically takes three to six weeks where documents are complete and no probate is required. Where probate is needed, the timeline is largely set by the Probate Registry – national waiting times have ranged between four and twelve months in recent years depending on case volume and complexity. See our guide to how long probate takes for current waiting times.
Tips and things to watch out for
Notify ii as early as possible. ii freezes accounts on notification, which protects against any unauthorised activity. There is no benefit in waiting until all documents are assembled – the first call costs you nothing and starts the clock.
SIPP nominations matter more than the Will. The deceased’s expression of wishes (nomination of beneficiaries) form is the most important document for SIPP death benefits. If the deceased completed one, it tells ii’s trustees who should receive the pension. The Will does not govern who inherits the pension. If you cannot find a nomination form, contact ii to confirm whether one is on record.
Prompt notification protects tax-free pension benefits. Where the deceased was under 75 and held a SIPP, the two-year window for tax-free death benefit payments runs from the date ii is notified. Every week of delay reduces the window – call as soon as you are able.
The APS deadline is real. A surviving spouse has three years from the date of death (or 180 days after estate administration, whichever is later) to use the Additional Permitted Subscription allowance. Missing the deadline permanently removes the extra ISA allowance. It is worth prioritising this even if other parts of the estate are still in progress.
Order enough death certificate copies upfront. If the deceased held accounts at multiple institutions, each will need its own original or certified copy. Four to six copies is a practical starting point for anyone with a moderate number of financial relationships.
Separate timelines for pensions and non-pension accounts. ii handles ISAs and trading accounts separately from SIPPs. If the deceased held both, expect separate correspondence and potentially different completion timelines. Do not assume that finalising one means the other is also resolved.
Direct debits and subscriptions. ii’s monthly flat-fee subscription is typically charged by direct debit. If the deceased paid a fee in this way, notify ii promptly so the direct debit can be cancelled. Charges continuing after death are recoverable but create additional administration.
See also: what happens to pensions when someone dies, what happens to an ISA when someone dies, and our inheritance tax guide.
Summary
Contact Interactive Investor’s bereavement team on 0345 607 6001 (Monday–Friday, 8am–6pm). Have the deceased’s full name, date of birth, date of death, and address ready. An original or certified copy of the death certificate is required before ii can process anything.
Non-pension assets (ISAs and trading accounts) below £50,000 do not require a Grant of Probate. SIPPs sit outside the estate entirely and never require probate. The total timeline from notification to distribution is typically three to six weeks where documents are complete.
For everything else involved in settling an estate, the what to do after a death hub covers each organisation you may need to notify.
If the deceased also held investments with Hargreaves Lansdown, see our guide to notifying Hargreaves Lansdown when someone dies. For Vanguard accounts, see notifying Vanguard when someone dies.
Sources
- Interactive Investor – account holder has passed away – verified May 2026
- Interactive Investor – what happens to my ISA when I die – verified May 2026
- Interactive Investor – pensions after death – verified May 2026
- Interactive Investor – changes to pensions and inheritance tax – verified May 2026
- gov.uk – ISA allowance when someone dies
- gov.uk – manage additional permitted subscriptions into an ISA
- gov.uk – tax on a private pension you inherit
- gov.uk – inheritance tax on unused pension funds and death benefits
- gov.uk – order a death certificate