I've messed up...

grumpycrab

Hello. I think I've messed up. Topped up a cash ISA in May which was then "converted" to a S&S ISA (along with a couple of other of my cash ISAs.)

Does this count as using my cash ISA allowance or S&S allowance for this year? I've been told that it used my S&S ISA allowance, hence when I created a NEW S&S ISA (with a different company) a couple of months later this was naughty.

kfm

grumpycrab wrote: »

Hello. I think I've messed up. Topped up a cash ISA in May which was then "converted" to a S&S ISA (along with a couple of other of my cash ISAs.)

Does this count as using my cash ISA allowance or S&S allowance for this year? I've been told that it used my S&S ISA allowance, hence when I created a NEW S&S ISA (with a different company) a couple of months later this was naughty.

The original deposit was into a cash ISA so this counts as using your cash ISA allowance for the year. You can transfer from cash ISAs into S&S ISAs but not the other way round. Therefore, from what you've said, you haven't used any of your S&S allowance yet.