Opening new ISA after having contributed to another one

the_learner

Hi, I am currently holding my stocks and shares ISA with Fidelity and I made a request to transfer my holdings to Charles Stanley.
As required, in order to make the transfer, I had to open a new stocks and shares ISA with Charles Stanley. But I just checked my Fidelity statement and I noticed that for this tax year I made a contribution. In particular the following ISA contributions have been made this tax year:
- a £2,800 contribution to my Fidelity stocks and shares ISA
- a £15,000 contribution to an IFISA
- a £200 monthly contribution to a Help to Buy ISA
I am not sure I was allowed, in my situation, to open an additional stock and shares ISA with Charles Stanley.
Considering that for this tax year I won't make any further contribution to a stocks and shares ISA (but only topping up the Help to Buy ISA) and that I just intend to transfer the holding from Fidelity to Charles Stanley, is the fact that I already contributed £2,800 to Fidelity going to create problems?
I am afraid I was not allowed to open a new stocks and shares ISA if I already contributed to this same ISA type for the current year. Can you please provide comments on this and how to best proceed? Thank you.

greenglide

No problem with that, provided you have not paid any money into the Charles Stanley ISA.

In order to do the transfer you have to open an ISA with the new provider and complete their transfer documents.

One the money is with CSD you can add more money if you should wish.

You can open as many ISAs as you want as long as you don't pay any new money into more than one in the same tax year.

the_learner

greenglide wrote: »

No problem with that, provided you have not paid any money into the Charles Stanley ISA.

In order to do the transfer you have to open an ISA with the new provider and complete their transfer documents.

One the money is with CSD you can add more money if you should wish.

You can open as many ISAs as you want as long as you don't pay any new money into more than one in the same tax year.

Great,

So after I get my holdings transferred I just need to avoid any contribution to the stocks and shares ISA with Charles Stanley and I should be fine.
Happy to hear that cause I got worried that I made a wrong move asking Charles Stanley to open an ISA and transfer from Fidelity when I already made a contribution.

On a separatr note... what happens to a help to buy ISA in case at the end I decide not to buy a house? Can I just withdraw that or I can also transform that in other type so that I don't lose the ISA status on that money?