Transferring old Stocks and Shares ISA

Rosso

Hi all

Can anyone help with the following? -
I have a Cash NISA within which I am using my allowance this year (all in cash). This account contains 5 years full allowance (£25k ish) used in cash in addition to this years. I also have (separately) a stocks and shares ISA with the S+S allowance for the past 5 years (another £25k ish).

Before NISAs came in obviously these had to be separate, but can I now transfer it all to cash (using the usual vendor ISA transfer procedures) and have a cash NISA account with the full ~£50k in cash. Essentially - is the fact that you can now use the whole yearly allowance in cash applied retrospectively to previous years, or do past years' funds have to stay within a S+S holder?

Thanks
Alan

Archi_Bald

Rosso wrote: »

is the fact that you can now use the whole yearly allowance in cash applied retrospectively to previous years, or do past years' funds have to stay within a S+S holder?

You misunderstand. The annual allowance has nothing to do with transfers (and no annual allowance ever applies retroactively). Since July 1, you can transfer any ISA to any ISA that allows transfers in.

Rosso

Archi_Bald wrote: »

You misunderstand. The annual allowance has nothing to do with transfers (and no annual allowance ever applies retroactively). Since July 1, you can transfer any ISA to any ISA that allows transfers in.

Fantastic, thanks Archi - exactly what I wanted to hear :j