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    • rebel4
    • By rebel4 14th Sep 17, 11:47 AM
    • 1Posts
    • 0Thanks
    rebel4
    2017/2018 Cash Isa
    • #1
    • 14th Sep 17, 11:47 AM
    2017/2018 Cash Isa 14th Sep 17 at 11:47 AM
    I opened a new instant access Isa this year using some new cash and transferring in from an old Isa. I recently tried to transfer the complete Isa to a new provider but was told that they could/would only accept the 'old' Isa transfer part. I have been trying to find out if this is the rule, if you open a new Isa for the current Tax year using cash you are not allowed to transfer to another Isa during the same year.
Page 1
    • xylophone
    • By xylophone 14th Sep 17, 12:03 PM
    • 23,416 Posts
    • 13,610 Thanks
    xylophone
    • #2
    • 14th Sep 17, 12:03 PM
    • #2
    • 14th Sep 17, 12:03 PM
    The rule is that current year's ISA subscription must be transferred in full.

    Therefore a person could transfer out only the current ISA subscription, leaving the old behind.

    They could transfer out the old subscription leaving the current behind.

    There seems to be no reason why the new provider could not accept the current subscription but perhaps they simply do not want to.

    What is the ISA to which you want to transfer? Have you checked the terms and conditions?
    • Flobberchops
    • By Flobberchops 14th Sep 17, 12:06 PM
    • 583 Posts
    • 421 Thanks
    Flobberchops
    • #3
    • 14th Sep 17, 12:06 PM
    • #3
    • 14th Sep 17, 12:06 PM
    https://www.gov.uk/individual-savings-accounts/transferring-your-isa

    5. Transferring your ISA
    You can transfer your Individual Savings Account (ISA) from one provider to another at any time.
    Y
    ou can transfer your savings to a different type of ISA or to the same type of ISA.
    If you want to transfer money you’ve invested in an ISA during the current year, you must transfer all of it.
    For money you invested in previous years, you can choose to transfer all or part of your savings.


    As long as you're requesting a full transfer-in I don't see what the problem is.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
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