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Transferring a Combined Cash and Stocks ISA
segedunum
Posts: 29 Forumite
Hi All,
I have a combined cash and stocks and shares ISA (in two parts though) and I'm looking to transfer it because it inevitably isn't performing as well as it used to.
I can understand the process of transferring an ISA, but what I would like to do is get rid of the stocks and shares part and simply end up with one cash ISA. Would I be able to cash in the stocks and shares ISA and still be able to transfer the Cash ISA in the current financial year?
Thanks
I have a combined cash and stocks and shares ISA (in two parts though) and I'm looking to transfer it because it inevitably isn't performing as well as it used to.
I can understand the process of transferring an ISA, but what I would like to do is get rid of the stocks and shares part and simply end up with one cash ISA. Would I be able to cash in the stocks and shares ISA and still be able to transfer the Cash ISA in the current financial year?
Thanks
0
Comments
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I'm looking to transfer it because it inevitably isn't performing as well as it used to.
why inevitably?Would I be able to cash in the stocks and shares ISA and still be able to transfer the Cash ISA in the current financial year?
Yes. However, once you do that you lose that ISA allowance forever.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 -
If you were happy to invest in the shares ISA before what has changed your mind? As mentioned above you once cashed in you will no longer have that ISA allowance as shares cannot be transferred to a cash ISA.
UK market today is at its highest for 2 years so is your poor performance the investment you chose or the sector?Remember the saying: if it looks too good to be true it almost certainly is.0
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