Cash ISA to Stocks and Shares - do I need to transfer it all?

golly99

Hi

Looking to start investing using Charles Stanley Direct ISA and transferring my m&s cash ISA into there. Not sure off the top of my head how much is in there, but question was, I don't want to invest my whole isa cash into Stocks and Shares so what is the procedure...if I wanted to transfer say 10k of the 15k in there, do I just withdraw that amount from the cash ISA before that transfer...then go to Charles Stanley to give them the details to take over the 10k for Stocks and Shares - is that right?

Hoping to move house next year so want to keep a bit of available cash back

Many thanks

Linton

If you transfer the money yourself you will use up the money transferred from your annual allowance. It will be treated as a new payment into the ISA.

The correct way is to go to the receiving company and ask them to transfer in, They will then take responsibility for the transaction. This ensures that the transferred money retains its ISA status.

If you are setting up a new account CSD may well have the option to fund it from an existing ISA. If not set up the CSD account first and then transfer in. There should be a form for this on their website. If not ask their customer support.

golly99

Thanks, yes was going to go to CSD to transfer in, but was just wondering how would I use some but not all of the allowance - is that possible..unless I can transfer all the money across then take it out at the CSD end?

jimjames

golly99 wrote: »

Thanks, yes was going to go to CSD to transfer in, but was just wondering how would I use some but not all of the allowance - is that possible..unless I can transfer all the money across then take it out at the CSD end?

Just put the amount you want to transfer on the form. Of course if you're not using your allowance this year then withdrawing the cash wouldn't matter either.

Eco_Miser

If you want to withdraw the other £5k, do that first, if you want to leave it in the Cash ISA, ask CSD to just transfer the £10k.
A few ISAs may have a condition that partial withdrawals (or transfers) are not allowed, if yours is one, you can transfer it to CSD and withdraw what you don't want to invest, or transfer to an instant access cash ISA and split it from there.