How does moving a S&S ISA works?

mika_dm

I have a dilemma how moving an older S&S ISA to another provider works.
For the sake of making it ease to type(doesn`t really mater providers at this point) I will call S&S ISA 2020-2021 Provider A and S&S ISA 2021-2022 Provider B.
This year(2020-2021) I invest £20k in Provider A. Next year 2021-2022 I invest another £20k in Provider B.
In April 2022 I want to transfer the investments from Provider B to provider A(in specie if possible or cash if not). I would prefer to keep Provider A and Provider B left opened(not to close any of them). Will the transfer use the allowance for the year 2022-2023?
For the year 2022-2023 in which Provider will I be able to trade again? A or B?
Is it possible to continue to invest in Provider B for year 2022-2023 if I moved the investments to Provider A?

I hope I didn`t make it too complicated, but I cannot figure out how it works.

Kind regards to all who can shed a light on this.

masonic

Will the transfer use the allowance for the year 2022-2023? No
For the year 2022-2023 in which Provider will I be able to trade again? A or B? Yes both A and B
Is it possible to continue to invest in Provider B foe year 2022-2023 if I moved the investments to Provider A? Yes you can add money to either A or B but not both.

mika_dm

masonic said:

Will the transfer use the allowance for the year 2022-2023? No
For the year 2022-2023 in which Provider will I be able to trade again? A or B? Yes both A and B
Is it possible to continue to invest in Provider B foe year 2022-2023 if I moved the investments to Provider A? Yes you can add money to either A or B but not both.

Thank you for your answer.
I forgot to put:
And for year 2023-2024 can repeat the same action?

masonic

mika_dm said:

masonic said:

Will the transfer use the allowance for the year 2022-2023? No
For the year 2022-2023 in which Provider will I be able to trade again? A or B? Yes both A and B
Is it possible to continue to invest in Provider B foe year 2022-2023 if I moved the investments to Provider A? Yes you can add money to either A or B but not both.

Thank you for your answer.
I forgot to put:
And for year 2023-2024 can repeat the same action?

Yes, although I'm not sure why you would want to.

mika_dm

masonic said:

Yes, although I'm not sure why you would want to.

I am using a platform which charges for dealing with shares, but I like it as a `safe` broker platform.
I was considering to use a share trade `free` platform to buy shares and transfer them in the other one, to try to avoid share buying charge.

masonic

mika_dm said:

masonic said:

Yes, although I'm not sure why you would want to.

I am using a platform which charges for dealing with shares, but I like it as a `safe` broker platform.
I was considering to use a share trade `free` platform to buy shares and transfer them in the other one, to try to avoid share buying charge.

The main 'free' platforms only support cash transfers, so you'll probably not make much in the way of savings unless you are trading very inefficiently. You will also suffer time out of the market, which could wipe out any saving.

mika_dm

masonic said:

The main 'free' platforms only support cash transfers, so you'll probably not make much in the way of savings unless you are trading very inefficiently. You will also suffer time out of the market, which could wipe out any saving.

Yes, I noticed they transfer only in cash. But At least I understood how I can transfer a %charge platform to a fix charged platform once portfolio reaches a certain value.
Thank you for your help, much appreciated.

EthicsGradient

mika_dm said:

In April 2022 I want to transfer the investments from Provider B to provider A(in specie if possible or cash if not). I would prefer to keep Provider A and Provider B left opened(not to close any of them). 
...
Is it possible to continue to invest in Provider B for year 2022-2023 if I moved the investments to Provider A?

I think you'd need to check with Provider B about this, since you've removed all the investments from the ISA with them. The ISA rules certainly allow it, but the provider may count that as closing the ISA,  and then you'd have to open a new one with B for 2022-23. Since it would be the only one you're opening (and investing in) in that tax year, that's OK, but it'd be more paperwork.