Transferring an ISA

Cliddy

I already have a cash isa this year invested in company A. I wish to transfer an old years ISA currently in company B. Can I create a new ISA with company C to enable this transfer ? Basically is opening a new account in same tax year allowed ? Obviously I won't be adding new money to it. Hope that makes sense !!

Lokolo

Yes. But to transfer the money to Company C you must ask Company C for an ISA transfer form and do it that way rather than BACS or whatever.

Baldur

Just complete company C's ISA transfer form (as long as they accept inward transfers) and let them sort out the transfer. A transfer is not 'opening a new ISA'.

whu

Remember also that the guidelines say that the transfer should take upto 30 days - so keep an eye out to make sure this happens - if it doesn't chase it up with both Company B and C