ISA Transfers

You are able to preserve the tax status of your existing ISA by transferring to a different provider. Transferring some or all of the money invested in previous tax years does not affect your current tax year ISA allowance.

You may transfer a Cash ISA to another Cash ISA, a Stocks & Shares ISA to another Stocks & Shares ISA and a Cash ISA to a Stocks & Shares ISA.  You cannot transfer a Stocks & Shares ISA to a Cash ISA.

You can also transfer money invested in the current tax year from a Cash ISA to a Stocks & Shares ISA. However, the entire amount invested in that Cash ISA must be transferred. Once a Cash ISA has been transferred to a Stocks & Shares ISA it cannot be transferred back to a Cash ISA.  When money invested in the current tax year is transferred from a Cash ISA to a Stocks & Shares ISA, it will be treated as if the Cash ISA never existed and the money had been invested directly into the Stocks & Shares ISA that tax year.  You can therefore, invest the remaining balance of your £10,680 annual allowance in the Stocks & Shares ISA or up to £5,340 in a new Cash ISA. 

You may also transfer money invested in the current tax year from a Stocks & Shares ISA  to another Stocks & Shares ISA.  You may then invest the remaining balance of your annual allowance in the new Stocks & Shares ISA.

THE SMALL PRINT

Past performance is no guide to future performance. Please remember that the value of an investment, together with any income, may fall as well as rise and an investor may not get back the full amount invested. Tax rules and regulations are subject to change.

To find out whether you should transfer your ISA, please contact us.