Can I open a 2nd stocks and shares ISA to transfer previous years ISAs (more in text)

chamelion

Hi folks,

I'm wondering if I can open a 2nd stocks and shares ISA given the below scenario:

* April 2018, opened stocks + shares ISA at provider A
* June 2018, moved previous year ISAs from other providers to provider A
* I have contributed nearly the full amount into provider A stocks and shares ISA
* The balance of my ISA allowance has been contributed to a NEW cash ISA I created in October 2019 (i.e. last week).

Is it possible, given the above, for me to create a new stocks + shares ISA and transfer away part of the previous years' reserve built up at provider A? i.e. not touch any of this years' contributions (which I understand would require me transferring full ISA) but just partial sums from previous years?

Thanks!

badger09

chamelion wrote: »

Hi folks,

I'm wondering if I can open a 2nd stocks and shares ISA given the below scenario:

* April 2018, opened stocks + shares ISA at provider A
* June 2018, moved previous year ISAs from other providers to provider A
* I have contributed nearly the full amount into provider A stocks and shares ISA
* The balance of my ISA allowance has been contributed to a NEW cash ISA I created in October 2019 (i.e. last week).

Is it possible, given the above, for me to create a new stocks + shares ISA and transfer away part of the previous years' reserve built up at provider A? i.e. not touch any of this years' contributions (which I understand would require me transferring full ISA) but just partial sums from previous years?

Thanks!

Yes, that is within HMRC's ISA rules. However, you need to check whether S&S ISA provider A allows partial ISA transfers out.