Do I need to wait until next tax year to switch S&S ISA

chockydavid1983

Hi guys

Probably a dumb question but here goes :-).
Looking to transfer my S&S ISA from Cavendish to iWeb.

I am a bit confused by the wording on the site when applying:
"I understand that I am only allowed to subscribe to one Stocks and Shares ISA in any tax year and confirm that I have not subscribed and will not subscribe to another Stocks and Shares ISA in the current tax year if I decide to subscribe to this Stocks and Shares ISA."

I have already invested the full ISA limit via Cavendish this tax year. Can I switch to iWeb now or do I have to wait until the new tax year? I am obviously not planning to invest any more cash until the new tax year but does subscribe to mean open or invest here?

Thanks,
Chris.

le_loup

You can switch at any time.
The "if you have subscribed" bit only applies to new subscriptions.

bowlhead99

Subscribe means move money that is not currently in an ISA, into an ISA, thereby using up some of the subscription limit for the year. Moving an existing ISA to a different provider isn't a new subscription. You're fine.

chockydavid1983

Thanks guys, that's cleared it up for me.