isa transfer query

charlotte1989_2

hello!

just a quick question...

currently got 2 isa's. for the 2013-14 ISA i'm going to open a new ISA and transfer them both into one (if i transfer them both i'll still have the new yearly allowance available to deposit, wont i?).

However, I won't get the annual interest on one of my ISA's until 3.5.13 so I'm leaving that one till then.

If I open a new ISA and transfer the other ISA into it, can I transfer the other ISA in at a later date or do they have to transfer at the same time?

hope this makes sense!

charlotte

lisyloo

if i transfer them both i'll still have the new yearly allowance available to deposit, wont i?

Correct. Transfers are "old" money and don't affect the allowance for new deposits.

However, I won't get the annual interest on one of my ISA's until 3.5.13 so I'm leaving that one till then.

That's not necessary.
They will pro-rate your interest when you leave.
e.g. let's say you left half way through the year, you'd get half the interest.
Unless of course there ar some penalties or fixed term, but otherwise they will work it out according to the number of days they've had your money.

If I open a new ISA and transfer the other ISA into it, can I transfer the other ISA in at a later date or do they have to transfer at the same time?

You can transfer them at seperate times, but there is no need to wait for interest unless you have penalties or a fixed term.

charlotte1989_2

great thanks!

ill check that ISA for penalties...if they do at least I know I can transfer it separately at a later time!

thanks!

waiax73

charlotte1989 wrote: »

hello!

if i transfer them both i'll still have the new yearly allowance available to deposit, wont i?.

If I open a new ISA and transfer the other ISA into it, can I transfer the other ISA in at a later date or do they have to transfer at the same time?

charlotte

1. Yes
2. Yes you can transfer the older ISA you already have to a new provider you want to invest with at a later date