Transfer S&S ISA to another provider (timing and investment)

Robie

Very stupid questions really but here goes.
1. Can I transfer out from one provider to another at any time or is it better to do it at the start of the new tax year?
2. Say I have invested 10K with my current provider for the current year and I transfer to another provider, can I invest the remaining 10K with the new provider for the current year?
Thanks
Robie

eskbanker

Yes, you can transfer at any time, as long as all current year money is transferred intact, and once transferred you can continue to use up the rest of your annual allowance with the new provider - a transfer essentially has the effect of emulating the situation you'd have been in had you paid in to the new provider in the first place.

dunstonh

1. Can I transfer out from one provider to another at any time or is it better to do it at the start of the new tax year?

There is no best time of the year.  The tax year is irrelevant unless you are transferring current tax year contributions.  

2. Say I have invested 10K with my current provider for the current year and I transfer to another provider, can I invest the remaining 10K with the new provider for the current year?

yes

Robie

Thank you very much dunstonh & eskbanker. Your responses much appreciated.

AnotherJoe

Robie said:

2. Say I have invested 10K with my current provider for the current year and I transfer to another provider, can I invest the remaining 10K with the new provider for the current year?

To expand upon that, say you invested £10k but it had grown to £12k which you transferred, you could still add £10k, and similarly, suppose you invested £10k and it had fallen to £8k, you could still only add £10k.

Robie

AnotherJoe said:

Robie said:

2. Say I have invested 10K with my current provider for the current year and I transfer to another provider, can I invest the remaining 10K with the new provider for the current year?

To expand upon that, say you invested £10k but it had grown to £12k which you transferred, you could still add £10k, and similarly, suppose you invested £10k and it had fallen to £8k, you could still only add £10k.

Thanks you Joe