Transfer an ISA if haven't deposited this year?

ziggyzaggy

Hello,

I have been reading a few forum posts about transferring ISAs but not quite sure if I have understood it correctly.

I currently have an ISA that I haven't put any money into this tax year (or any other ISA) so have the full £3,600 allowance remaining. If I decide to transfer it into a NatWest ISA will the allowance be carried over to that and does it matter when I transferred money into my current ISA (i.e. this tax year or last tax year)?

Also is it possible to only transfer part of the balance across and still have the allowance move across?


Thanks again for any help, this forum is way better at explaining than any customer service!:money:

Baldur

You can transfer whole or partial previous years' (but only whole current tax year's) Cash ISA funds to a new provider BUT providers are not obliged to accept partial transfers - some do not permit or accept partial ones at all.

You are free to deposit this year's £3,600 allowance with whichever provider you choose, whether it's the one to whom you transfer or a totally different one.

ziggyzaggy

Baldur wrote: »

You can transfer whole or partial previous years' (but only whole current tax year's) Cash ISA funds to a new provider BUT providers are not obliged to accept partial transfers - some do not permit or accept partial ones at all.

You are free to deposit this year's £3,600 allowance with whichever provider you choose, whether it's the one to whom you transfer or a totally different one.

Thanks for the info! Puts my mind at ease.
So if I had of deposited with my current providor this year I could still of transferred that out also but only the whole amount of it? And if so would the allowance be transferred to the new providor?

Thanks again!

Lokolo

Yes thats right. So you've filld up your allownace this year into old ISA, then transferred it. Thats fine.