Partial transfers from Cash ISA to Vanguard S&S ISA in future tax years (or vice versa) - confused!

sarah748

Aceace said:

sarah748 said:

masonic said:

Or do a partial transfer of the money you want at Vanguard to a different cash ISA, followed by a full transfer of that new ISA to Vanguard.

I like your thinking, but you are only able to open one cash ISA per tax year, aren't you, which complicates that method slightly?
I suppose I could partial transfer between an old cash ISA from a previous tax year, and a new cash ISA, and leave only the money I want to transfer to Vanguard in that cash ISA, then transfer it all... hmm, food for thought. Thank you!

You can open as many cash ISAs as you like per year, and transfer past year ISA funds to them in any proportion (as long as the ISA manager allows partial transfers). You just can't pay new cash into more than 1.

So in theory I could do this:

March 2021 - open new “Account A” Cash ISA, transfer remaining allowance in for 20/21. eg. 10K.

May 2021 - open (via transfer) “Account B” Cash Isa with partial transfer of 5K from Account A.

July 2021  - open Account C Cash ISA, pay new year's allowance money only in to Account C.

August 2021 - transfer Account B to S&S ISA in full

Thanks, appreciate the help. 🤯

Aceace

sarah748 said:

Aceace said:

sarah748 said:

masonic said:

Or do a partial transfer of the money you want at Vanguard to a different cash ISA, followed by a full transfer of that new ISA to Vanguard.

I like your thinking, but you are only able to open one cash ISA per tax year, aren't you, which complicates that method slightly?
I suppose I could partial transfer between an old cash ISA from a previous tax year, and a new cash ISA, and leave only the money I want to transfer to Vanguard in that cash ISA, then transfer it all... hmm, food for thought. Thank you!

You can open as many cash ISAs as you like per year, and transfer past year ISA funds to them in any proportion (as long as the ISA manager allows partial transfers). You just can't pay new cash into more than 1.

So in theory I could do this:

March 2021 - open new “Account A” Cash ISA, transfer remaining allowance in for 20/21. eg. 10K.

May 2021 - open (via transfer) “Account B” Cash Isa with partial transfer of 5K from Account A.

July 2021  - open Account C Cash ISA, pay new year's allowance money only in to Account C.

August 2021 - transfer Account B to S&S ISA in full

Thanks, appreciate the help. 🤯

Yes, assuming you haven't paid any new cash into a cash ISA this tax year so far. 

Note: you will be paying in to Account A, not transferring in. (OK, it might be a cash transfer, but not an ISA transfer).

masonic

sarah748 said:

Aceace said:

sarah748 said:

masonic said:

Or do a partial transfer of the money you want at Vanguard to a different cash ISA, followed by a full transfer of that new ISA to Vanguard.

I like your thinking, but you are only able to open one cash ISA per tax year, aren't you, which complicates that method slightly?
I suppose I could partial transfer between an old cash ISA from a previous tax year, and a new cash ISA, and leave only the money I want to transfer to Vanguard in that cash ISA, then transfer it all... hmm, food for thought. Thank you!

You can open as many cash ISAs as you like per year, and transfer past year ISA funds to them in any proportion (as long as the ISA manager allows partial transfers). You just can't pay new cash into more than 1.

So in theory I could do this:

March 2021 - open new “Account A” Cash ISA, transfer remaining allowance in for 20/21. eg. 10K.

May 2021 - open (via transfer) “Account B” Cash Isa with partial transfer of 5K from Account A.

July 2021  - open Account C Cash ISA, pay new year's allowance money only in to Account C.

August 2021 - transfer Account B to S&S ISA in full

Thanks, appreciate the help. 🤯

You had £18k remaining allowance when you started the thread, so have you paid into a cash ISA since then? If you already hold a cash ISA with some of your allowance for 20/21, then Account A must be that existing ISA (unless you have are with a split-ISA provider and open with the same provider). If so, you can do as you suggest.

sarah748

masonic said:

sarah748 said:

Aceace said:

sarah748 said:

masonic said:

Or do a partial transfer of the money you want at Vanguard to a different cash ISA, followed by a full transfer of that new ISA to Vanguard.

I like your thinking, but you are only able to open one cash ISA per tax year, aren't you, which complicates that method slightly?
I suppose I could partial transfer between an old cash ISA from a previous tax year, and a new cash ISA, and leave only the money I want to transfer to Vanguard in that cash ISA, then transfer it all... hmm, food for thought. Thank you!

You can open as many cash ISAs as you like per year, and transfer past year ISA funds to them in any proportion (as long as the ISA manager allows partial transfers). You just can't pay new cash into more than 1.

So in theory I could do this:

March 2021 - open new “Account A” Cash ISA, transfer remaining allowance in for 20/21. eg. 10K.

May 2021 - open (via transfer) “Account B” Cash Isa with partial transfer of 5K from Account A.

July 2021  - open Account C Cash ISA, pay new year's allowance money only in to Account C.

August 2021 - transfer Account B to S&S ISA in full

Thanks, appreciate the help. 🤯

You had £18k remaining allowance when you started the thread, so have you paid into a cash ISA since then? If you already hold a cash ISA with some of your allowance for 20/21, then Account A must be that existing ISA (unless you have are with a split-ISA provider and open with the same provider). If so, you can do as you suggest.

I've only paid 2K into an S&S ISA so far this tax year, so no Cash ISAs opened or paid into from this tax year, yet. The 10K was just a theoretical example, not indicative of actual amounts! But thanks for clarifying