Cash ISA to Stocks & Shares?

JAM_91

Hi guys, 
I'm looking for some advice...
I currently have £30k in a cash ISA that I've built up over the years. In March, instead of putting savings into the cash ISA I put £8k in a stocks & shares ISA which I'm managing myself and due to the current climate am seeing a 23%+ return on my investment. Obviously, I understand this isn't normal and not expect to see that growth all the time but with the banks cutting the interest rates on my savings account, I'm strongly considering putting a large chunk of my savings into stocks and shares whilst the market is still low. 

My question is... Is it possible to transfer out of a cash ISA and into a stocks & shares ISA without any implications?

Thanks for any help and/or advice in advance. 

eskbanker

ISA transfers between cash and S&S are permitted - make sure you use the receiving provider's ISA transfer process.

Don't be swayed by a perception that 'the market is low' - your decision to invest should be based on fundamentals of having a pot that you're happy to leave alone for at least five years, while leaving enough in readily-accessible cash deposit form.

grumiofoundation

JAM_91 said:

Hi guys, 
I'm looking for some advice...
I currently have £30k in a cash ISA that I've built up over the years. In March, instead of putting savings into the cash ISA I put £8k in a stocks & shares ISA which I'm managing myself and due to the current climate am seeing a 23%+ return on my investment. Obviously, I understand this isn't normal and not expect to see that growth all the time but with the banks cutting the interest rates on my savings account, I'm strongly considering putting a large chunk of my savings into stocks and shares whilst the market is still low. 

My question is... Is it possible to transfer out of a cash ISA and into a stocks & shares ISA without any implications?

Thanks for any help and/or advice in advance. 

Assuming you invested mid/late march 23% is the same return as any global equities fund (maybe this is what you meant but your post implies you are actively managing). 

As above re the market being 'low' - in any case the 'market' is pretty much back to the same level as February. Therefore is it 'still low'? 

JAM_91

eskbanker said:

ISA transfers between cash and S&S are permitted - make sure you use the receiving provider's ISA transfer process.

Don't be swayed by a perception that 'the market is low' - your decision to invest should be based on fundamentals of having a pot that you're happy to leave alone for at least five years, while leaving enough in readily-accessible cash deposit form.

Yes, I totally agree.
I'll be in it long term in well established stocks like Coca-cola and ETF's. 
I just think I'll have a better return on investment than if the funds were sitting in a cash ISA especially in this economy. 

JAM_91

grumiofoundation said:

JAM_91 said:

Hi guys, 
I'm looking for some advice...
I currently have £30k in a cash ISA that I've built up over the years. In March, instead of putting savings into the cash ISA I put £8k in a stocks & shares ISA which I'm managing myself and due to the current climate am seeing a 23%+ return on my investment. Obviously, I understand this isn't normal and not expect to see that growth all the time but with the banks cutting the interest rates on my savings account, I'm strongly considering putting a large chunk of my savings into stocks and shares whilst the market is still low. 

My question is... Is it possible to transfer out of a cash ISA and into a stocks & shares ISA without any implications?

Thanks for any help and/or advice in advance. 

Assuming you invested mid/late march 23% is the same return as any global equities fund (maybe this is what you meant but your post implies you are actively managing). 

As above re the market being 'low' - in any case the 'market' is pretty much back to the same level as February. Therefore is it 'still low'? 

I'm not 'actively managing' it in terms of day trading constantly buying and selling but I've picked certain companies and ETF's to invest in rather than leaving it to someone else. 

Most of the stocks and shares I've bought are still no where near what they were trading at pre-march 2020, so still a lot of headroom to increase. 

Andy7856

Absolutely no problems (assuming your provider allows transfer in).  I have done this a few times to II (from my Building Society cash), then reinvested into funds using the monthly payment facility.  Took about 10 days to complete, and kept its ISA tax free status.  You need to start the request from the receiving provider of course.

grumiofoundation

JAM_91 said:

grumiofoundation said:

JAM_91 said:

Hi guys, 
I'm looking for some advice...
I currently have £30k in a cash ISA that I've built up over the years. In March, instead of putting savings into the cash ISA I put £8k in a stocks & shares ISA which I'm managing myself and due to the current climate am seeing a 23%+ return on my investment. Obviously, I understand this isn't normal and not expect to see that growth all the time but with the banks cutting the interest rates on my savings account, I'm strongly considering putting a large chunk of my savings into stocks and shares whilst the market is still low. 

My question is... Is it possible to transfer out of a cash ISA and into a stocks & shares ISA without any implications?

Thanks for any help and/or advice in advance. 

Assuming you invested mid/late march 23% is the same return as any global equities fund (maybe this is what you meant but your post implies you are actively managing). 

As above re the market being 'low' - in any case the 'market' is pretty much back to the same level as February. Therefore is it 'still low'? 

I'm not 'actively managing' it in terms of day trading constantly buying and selling but I've picked certain companies and ETF's to invest in rather than leaving it to someone else. 

That is actively managing .