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Stocks & Shares ISA - buy shares before transfer complete?
mxo
Posts: 16 Forumite
I'm planning on transferring my stocks and shares ISA to another provider. Can I buy shares on the new provider's platform in the ISA before the transfer is complete? I have already paid into the ISA on the old provider in this tax year.
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Comments
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No, you will be able to buy shares when the cash is in the new ISA account.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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No, you will be able to buy shares when the cash is in the new ISA account.
I think the OP is suggesting adding and investing new cash directly in the new S&S ISA account while the other assets (including some current year contributions) are transfering from the previous S&S ISA account.
As long as you end the tax year with all the current year assets in a single account and do not breach the annual contribution limit (as a total across both accounts) you will probably get away with it if the new provider's systems don't stop you. Still it's neater if you just wait a bit for the transfer to complete.
Alex.0
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