IFISA transfer questions

buyhighselllow

Hi
Couple of questions for clarifaction

Can I transfer 15K from a 17/18 IFISA to a stocks and shares ISA with whom I have a 18/19 ISA and have make 10K contributions already this year ( but non the proceeding year 17/18 ) ?


Can I make 10K contributions to a 18/19 IFISA and then transfer 10k later this year to a S&S ISA provider with whom I have already made 10K contributions in 18/19? If so do I do this as a transfer or can I just withdraw 10K from the IFISA and then add it to the S&S ISA ?

Cheers

eskbanker

You can transfer anything from one ISA to another subject to:

• Arranging this via the receiving provider
• The recipient accepting inbound transfers
• The sending party allowing partial transfers
• All current year contributions (per ISA type) being kept together
• (other specific rules apply only to Lifetime and Help to Buy ISAs)

so provided these conditions are met then answers to the first two questions are yes.

For the last question, it would need to be done as a transfer as you wouldn't have any residual 2018/19 allowance left if you'd already paid £10K into each of a IFISA and a S&S ISA.

masonic

Do both providers allow partial transfers?

Does your IFISA allow flexible withdrawals?

buyhighselllow

masonic wrote: »

Do both providers allow partial transfers?

Does your IFISA allow flexible withdrawals?

Will check these out thanks