Shares ISAS and rolling over

thecornflake

Hi,

I currently have a stocks and shares ISA that I use for share trading. in the new tax year I want to start using a different company for this, as they have a wider range of funds etc that I can invest in with them I'm fairly happy to leave my existing shares in the existing one, unless I can transfer for free - I assume they'll have about that in the terms and conditions.
However what I'm not sure about, is do I need to tell them that I don;t want to continue having the ISA with them for the next tax year? As in, will they automatically assume I want to carry on and create a new one in effect? I don't want to go and set a new one up and then find out I've inadvertently ended up with 2.

Lokolo

Just don't deposit into the existing S&S ISA and you will be fine. You can continue to trade in it though, just not deposit new money.

jimjames

If you have a DD setup then make sure it's cancelled. If not then you're fine as long as you don't add more money.

thecornflake

Thanks for the help. Thought that might be the case but didn't want to get caught out.