Flexible ISA

HS84HS84 Forumite
2 Posts
MoneySaving Newbie
I am in the very fortunate position of having c. 90k in a stocks and shares ISA with Hargreaves lansdown after saving for many years. I still have 16k to fill of my 20k ISA allowance this tax year.
I have a house purchase coming up and would like my ISA to act as an emergency cash buffer for renovations and unforeseen expenses. Hence I want to swap my 90k stocks and shares ISA for a flexible cash ISA (the theory being I can temporarily dip into my ISA to pay for building works and then re-fill the ISA by the end of the tax year (and do the same next tax year). However I don't want to move all 90k to one bank as I'd like to stay below the 85k fscs limit maybe max 80k with one bank. Can I move my stocks and shares ISA into two separate flexible cash ISAs this tax year? Also, any rules on who I can give my additional 16k unused ISA allowance to this year (does it have to be one of those two cash ISAs I intend to open)? 
Thanks in advance for your help... 

Replies

  • masonicmasonic Forumite
    15.9K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
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    I don't recall whether HL support partial transfers out, you might need to transfer the full ISA to a flexible cash ISA provider and then do a partial transfer from there to a second provider. Whatever you do, if you have not paid into a cash ISA so far this tax year, you are free to pay into a third cash ISA or one of the two you will already hold.
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