Transfer in rules stocks & shares Nisa

mookev

I am considering opening a stocks and shares Nisa probably through Cavendish online platform. My question is that if I transfer the capital for this from my current cash Isa which was paid in during 2013 does this then count towards my 2014-5 allowance of £15000. ?
Thanks

Ifts

No the money from your 2013 cash Isa will not count towards your 2014/15 allowance of £15K.

Only new money paid into an Isa counts towards that years allowance (£15k currently) not transfers in from previous years Isa's.

You are free to transfer the money from your 2013 cash Isa to a S&S Nisa that you want to open and then pay in the 2014/15 £15k allowance if you have not already used it.

Linton

You will have to get your NISA to arrange the transfer in. Dont simply take the money out of the old ISA and put it in the NISA yourself - taking it out of the old ISA will lose its ISA status.

Jusifay

Hi, I opened a ISA saver fixed for 18 months with Halifax -I chose it because is a lot easier to manage online and the interest wasnt bad (1.75%),

I transferred my last year Coventry Poppy ISA into it and I kept transferring money since, however I wanted to transfer some money today and realised I couldnt do it as the 60 days to do so are now gone.

Tbh its my fault because I didnt read the Terms and Conditions properly, I didnt know that I only had 60 days to put up to 15K.

No that I now it, I want to keep saving but I cant put any more money into this ISA, what shall I do?

I have got about 7K in this NISA and about 5K in a Barclays Saving account (former ING account). Shall I open a new NISA that allows me to put more money in it and make the most of this years tax free allowance? or from now on shall I keep putting my money in the Barclays saving account?

Thank you for your help in advance!

Jus

xylophone

http://www.hmrc.gov.uk/isa/faqs.htm

A. There are limits on the number of ISA accounts you can subscribe to each tax year. You can only put money into one cash ISA and one stocks and shares ISA.

But in different years, you could choose to save with different managers. There are no limits on the number of different ISAs you can hold over time.

You could put the balance of your isa savings for this tax year into a stocks and shares ISA.

Or you could consider opening some high interest paying current accounts?
https://forums.moneysavingexpert.com/discussion/5099524

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