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transfer of stocks and shares ISA to cash ISA question
Sentinal73
Posts: 100 Forumite
Hi all,
Have a question on the behalf of my Dad.
He currently has £5K in a S&S ISA which he wants to close and transfer to his mini-cash ISA.
He hasnt put any deposits this year into his mini-cash ISA
Is he able to do this? Or does it form part of his yearly ISA quota?
Thanks in advance!!
Have a question on the behalf of my Dad.
He currently has £5K in a S&S ISA which he wants to close and transfer to his mini-cash ISA.
He hasnt put any deposits this year into his mini-cash ISA
Is he able to do this? Or does it form part of his yearly ISA quota?
Thanks in advance!!
0
Comments
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You cannot transfer from S&S ISA to a cash ISA so it would be using up his yearly allowance.0
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why does he want to do that? If its a risk reduction then he may not be aware that low risk options exist for S&S ISAs which do not require investment into stocks and shares.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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