Isa

sivs

Hi All,

No sure if this is possible but are you able to transfer money that you hold in a ISA to someone else.

In the same way that you can transfer you ISA to a new ISA account to get a better rate.

I have looked on the web and can't find the answer.

Thanks:D

LeafGreen

I don't think you can, no.

typistretired

I'm afraid not, you will need to withdraw from the ISA (losing the tax advantages) and transfer the funds outside of the ISA 'wrapper'. The clue is in the name, Individual Savings Account. The ISA declaration is signed by the individual in question.

bigfreddiel

sivs wrote: »

Hi All,

No sure if this is possible but are you able to transfer money that you hold in a ISA to someone else.

In the same way that you can transfer you ISA to a new ISA account to get a better rate.

I have looked on the web and can't find the answer.

Thanks:D

there's a clue in the name i = individual - meaning you and not some other person

Archi_Bald

Afraid, no, it is not possible to transfer an ISA to another person.

If you can detail your situation, and your desired result, people might have further ideas on whether and how you could achieve what you want to do.

MoneySaverLog

Only way is to withdraw the money from the isa, pay it to the other guy outside the isa who then pays it into their own isa using their own isa allowance for the current year.

sivs

Thanks for all your help... I didn't think you could but just wanted to check there wasn't any loop holes or anything.