Advice on ISA's please

Alexland

The only limit is how much you can be bothered.

masonic

No there are no limits to the number of times you can transfer an ISA. Though it probably isn't worth it for miniscule differences in rate as there might be some lost days when money is in transit (some, but not all, providers will backdate interest).

ColdIron

threeamigos said:

Are there any limits on how many times one can transfer an ISA during a year if a higher interest rate is available? Thanks

None at all in theory. Just make sure that the recipient ISA manager accepts transfers and that the ISA to be transferred is not a fixed term ISA

Rodgers1

Hi guys,  I have two separate stocks and shares ISAs. Am I correct that although I can only add to one per year I could in theory make withdrawals from both of them in the same year or alternatively pay into one and withdraw from the other if necessary due to personal circumstances? 

Alexland

Rodgers1 said:

Hi guys,  I have two separate stocks and shares ISAs. Am I correct that although I can only add to one per year I could in theory make withdrawals from both of them in the same year or alternatively pay into one and withdraw from the other if necessary due to personal circumstances? 

Yes it's a restriction on contributions not on withdrawals.

eskbanker

Rodgers1 said:

Hi guys,  I have two separate stocks and shares ISAs. Am I correct that although I can only add to one per year I could in theory make withdrawals from both of them in the same year or alternatively pay into one and withdraw from the other if necessary due to personal circumstances? 

Yes, the rule you refer to constrains new subscriptions to one ISA of each type per tax year but there are no scheme-level rules limiting withdrawals.

At the risk of stating the obvious, investments in S&S ISAs should be for the long term - it's normally recommended to maintain an emergency fund in cash form to accommodate urgent requirements, rather than having to sell investments at inopportune moments....

Rodgers1

Thanks, that clears it up.  I appreciate the reply.