Moving money between ISA and SIPP

caldi9

Hello,

is it allowed to move money between an ISA and SIPP either way at all? If so, is there a limit pa?

thank you

masonic

Yes, you can withdraw the money from your ISA and pay it into a SIPP. There is no limit to the amount you can move, but there is a limit to the amount of tax relief you can claim, depending on your income.

caldi9

thanks - I suppose money cannot be moved from a SIPP to an ISA?

masonic

caldi9 wrote: »

thanks - I suppose money cannot be moved from a SIPP to an ISA?

It could if you are over 55. The money withdrawn would be treated and taxed as income though.

dunstonh

thanks - I suppose money cannot be moved from a SIPP to an ISA?

yes if you are over 55. Not normally suitable unless you are using up the personal allowance or other tax efficiency goais.