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  • FIRST POST
    • globalnomad
    • By globalnomad 9th Jan 18, 9:42 PM
    • 5Posts
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    globalnomad
    Partial transfers between S&S ISA and Cash ISA
    • #1
    • 9th Jan 18, 9:42 PM
    Partial transfers between S&S ISA and Cash ISA 9th Jan 18 at 9:42 PM
    Hello,
    Have decided after much deliberating and research to invest some of the cash I have sitting in a cash ISA into a Stocks & Shares ISA but have come up against a hurdle.

    Does anyone know whether any fund platform providers make it possible to transfer part of a cash ISA into a S&S ISA (and likewise, in future, transfer part of it out again) without having to withdraw the money from the ISA wrapper first?

    I was planning to go with Cavendish Online to keep platform fees low. Before setting up the account, I spoke to an adviser at Cavendish to check whether I could transfer in just part of my cash ISA (and, in the future, transfer out some of the stocks and shares, after selling, back into a cash ISA) without losing the ISA wrapper. I was told this would be no problem, I just needed to set up an account (via Fidelity Fund Network) and then fill in an online form. I've set up the account, but the form makes it clear that I have to transfer in all of my cash ISA, and reading the "how to" guide it also states I won't be able to do a partial transfer out again in future.

    I will speak to a Cavendish adviser tomorrow to find out if there's a way around it, but I suspect not. Does anyone have experience of doing this with other providers? I might have to request Cavendish cancels the S&S ISA altogether so I can go with another provider who will allow partial transfers in/out.

    Many thanks!
    GN
Page 1
    • ColdIron
    • By ColdIron 9th Jan 18, 9:58 PM
    • 3,737 Posts
    • 4,565 Thanks
    ColdIron
    • #2
    • 9th Jan 18, 9:58 PM
    • #2
    • 9th Jan 18, 9:58 PM
    There's no technical reason why you can't do this, I've done it several times. Some forms make no provision for a partial transfer so I include a covering letter to instruct them how much to transfer. However it's their platform and their rules so if you can't overcome this then maybe set up a sacrificial cash ISA elsewhere, do a partial transfer to that then hoof the lot across to Cavendish
    • Alexland
    • By Alexland 9th Jan 18, 10:12 PM
    • 1,084 Posts
    • 717 Thanks
    Alexland
    • #3
    • 9th Jan 18, 10:12 PM
    • #3
    • 9th Jan 18, 10:12 PM
    Although under the ISA rules you cannot partially transfer a current tax year Cash ISA contribution into a S&S ISA you would need to transfer it all. It's fine for previous year contributions.
    • globalnomad
    • By globalnomad 9th Jan 18, 11:28 PM
    • 5 Posts
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    globalnomad
    • #4
    • 9th Jan 18, 11:28 PM
    • #4
    • 9th Jan 18, 11:28 PM
    That's a good idea about a sacrificial cash ISA, I hadn't thought of that. Doesn't help with the partial transfer out in future though. It's good to know you've been able to do partial transfers with other providers, so if Cavendish can't help, we can go elsewhere. Mind if I ask which fund platform providers you've been able to do that with?

    Thanks for the reminder about the ISA transfer rules. What I've not been able to understand from reading the rules is how will they determine whether the partial transfer comes from this year's allowance or previous years' holdings? There doesn't seem any way of knowing.
    • AirlieBird
    • By AirlieBird 10th Jan 18, 5:45 AM
    • 782 Posts
    • 600 Thanks
    AirlieBird
    • #5
    • 10th Jan 18, 5:45 AM
    • #5
    • 10th Jan 18, 5:45 AM
    Which form are you looking at? The form on Cavendish website gives the option for partial transfer.

    At 3. you state whether you want to transfer all or none of this tax year's deposits and their proceeds; a partial transfer of current year deposits not being permitted by the regulations.

    At 4. you state whether you want to transfer all of previous tax year deposits and their proceeds, or a stated amount or percentage of them.
    Last edited by AirlieBird; 10-01-2018 at 6:01 AM.
    • globalnomad
    • By globalnomad 10th Jan 18, 9:34 AM
    • 5 Posts
    • 0 Thanks
    globalnomad
    • #6
    • 10th Jan 18, 9:34 AM
    • #6
    • 10th Jan 18, 9:34 AM
    That looks promising! Where did you get the form from? I can't see it on Cavendish's website, but I might be being blind. I was told by the adviser to set up a Fidelity/Fund Network account and then make the transfer from within that by going to "manage account". The "form" I'm looking at is the online transfer part of the webpage rather than an actual form like the one you've linked to.
    • AirlieBird
    • By AirlieBird 10th Jan 18, 10:10 AM
    • 782 Posts
    • 600 Thanks
    AirlieBird
    • #7
    • 10th Jan 18, 10:10 AM
    • #7
    • 10th Jan 18, 10:10 AM
    Where did you get the form from?
    Originally posted by globalnomad
    https://www.cavendishonline.co.uk/investments/move-your-investment/cashisa/
    • globalnomad
    • By globalnomad 10th Jan 18, 10:23 AM
    • 5 Posts
    • 0 Thanks
    globalnomad
    • #8
    • 10th Jan 18, 10:23 AM
    • #8
    • 10th Jan 18, 10:23 AM
    Thank you! I clearly was not looking in the logical places!
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