Partial ISA transfer x 2 into 2 different stocks ISA

[Deleted User]

A bit of a complicated one, but I have a cash ISA I opened and contributed to last tax year (but not this tax year).

This tax year, I plan to open TWO stocks and shares ISAs. I will contribute to one with new cash. And I plan to transfer half of the cash ISA into one of the new stocks ISAs and half into the other new stocks ISA. 

Can you see anything wrong in my plan? I understand a transfer does not count as a subscription and I can only contribute to one stocks ISA per year.

grumiofoundation

The Stocks and Shares ISAs would both need to accept partial transfers in from cash ISAs. Don't know how many do/don't but I know for example vanguard only accepts full cash ISA transfers. 

Alexland

Also some Cash ISA providers don't support partial transfers out.

[Deleted User]

I don't think it's possible as from the Govs how to open an ISA as an ISA manager page:

Before a manager can open an ISA that an investor has applied for, they must hold all of the following:

• a valid application, which he has accepted (see signature)
• a valid ISA subscription
• the date on which the ISA manager accepts the application form
• the date on which the subscription is made (see data of subcription)

A manager may accept an application before a subscription is made, but the ISA does not begin until a subscription is made.

Bullet point 2. I can only subscribe to one of the 2 new ISAs. I may be able to transfer into both of the 2 new ISAS but can't open 2 because I can't subscribe to 2.

masonic

When you apply for an ISA for the purposes of transferring into it and not subscribing, bullet point 2 can be fulfilled by opening the ISA upon receipt of the transfer cheque (or electronic funds transfer) from the old ISA manager. In practice, ISAs are opened with zero balance all the time but what is defined as "opened" is open to some interpretation.

As far as HMRC is concerned, the transfer of an ISA does not involve opening an ISA. It is the same account in a new home.