We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
matured Maxi ISA advice
aa241173
Posts: 1 Newbie
Hello there, I couldnot find specific advice on this in the forum and would be grateful for any help.
I have a maxi isa of £7000 which has matured after tracking ftse for 51/2 years.
1)i want to know if i can split the £7000 and move £ 3000 into another mini cash isa and still retain this years mini isa allowance.
2) The remaining £4000 does it have to be invested in a s&s isa to retain its tax benefit. ie can i now move it into a minicash isa in addition to the £3000
many thanks in advance for your help
I have a maxi isa of £7000 which has matured after tracking ftse for 51/2 years.
1)i want to know if i can split the £7000 and move £ 3000 into another mini cash isa and still retain this years mini isa allowance.
2) The remaining £4000 does it have to be invested in a s&s isa to retain its tax benefit. ie can i now move it into a minicash isa in addition to the £3000
many thanks in advance for your help
0
Comments
-
No, you can't split an existing S&S ISA into Cash and Shares. However, whether you reinvest or sell out, it does not affect this years allowance.0
-
No. Currently, its all MAXI and has to remain that way. Any withdrawal you make to fund a MINI ISA will use the MINI ISA allowance.1)i want to know if i can split the £7000 and move £ 3000 into another mini cash isa and still retain this years mini isa allowance.
It remains a stocks and shares ISA and has to be reinvested as such to retain its ISA status.2) The remaining £4000 does it have to be invested in a s&s isa to retain its tax benefit. ie can i now move it into a minicash isa in addition to the £3000I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards