cash isa transfer

smileguy

hi i dont understand why i cant transfer previous years isa money from my current years isa into a new isa as its old money. i thought the rules are you can transfer previous money from old tax year as much as you want?.i will only be paying into one isa new money.

eskbanker

smileguy wrote: »

hi i dont understand why i cant transfer previous years isa money from my current years isa into a new isa as its old money. i thought the rules are you can transfer previous money from old tax year as much as you want?.i will only be paying into one isa new money.

You can transfer previous years' money (and this year's money), that's what you've been told already in previous posts above! Where did you get the idea that someone is contradicting this rule?

smileguy

this reply says i cant do partial transfer of cash isa ?

Can you make a partial transfer of a current year ISA?
Originally posted by YorkshireBoy
”No (except to an S&S ISA), but you can transfer the current year plus most of the previous years if you want - but you must say where the current year's money is, and and further additions this year must go to the same place.
Big Freddie's suggestion won't work - well it probably will, until HMRC catch up

colsten

The "no" refers to BigFreddies suggestion that you can transfer parts of your current year's ISA subscription. YB said no you can't, because it is not allowed.

The rules are simple

1. you can transfer any or all of your previous years' subscriptions, and interest earned on them
2. you can transfer your current year's subscription as long as you transfer all of them

For the avoidance of doubt, when I say 'transfer' I mean a proper ISA transfer, requested by filling in a form your new provider gives you. The above rules are stated on all of the forms.

smileguy

thanks colsten that makes it more clear so even though my current year isa is made up of 100 pounds of this years subcriptions and other years subscriptions i can transfer previous years money out of it and interest and leave the 100 pounds? ..

colsten

Yes you can.

Or you can transfer the lot, as there would probably no good reason for leaving £100 behind.

Eco_Miser

smileguy wrote: »

this reply says i cant do partial transfer of cash isa ?

No it doesn't. It says you can't make a partial transfer of a current year ISA, which you can't.

smileguy wrote: »

Can you make a partial transfer of a current year ISA?
Originally posted by YorkshireBoy
”No (except to an S&S ISA), but you can transfer the current year plus most of the previous years if you want - but you must say where the current year's money is, and and further additions this year must go to the same place.
Big Freddie's suggestion won't work - well it probably will, until HMRC catch up

And you messed up the quoting, most of that quote was originated by me, Eco Miser.

smileguy

hi colsten thanks for your reply i wanted to keep the hundred pounds in there so i can pay in money from regular savers before the end of tax year.the rest of the money out of the account is going in a fixed isa with a 30 day window to pay it in.