Funding new S&S ISA during a transfer between providers 26 November 2021 at 10:52AM in ISAs & tax-free savings 3 replies 71 views

Scrudgy

Hi all

I have started a transfer of a S&S ISA from Halifax Share Dealing to Fidelity. As I had funded the old ISA during the tax year, does any one know if I can fund the new Fidelity ISA now while the transfer is in progress? Or do I have to wait until the transfer is complete?

Many thanks.

Alexland

Generally the providers discourage it as it makes their life a bit harder when calculating your remaining ISA allowance, people may accidentally exceed their allowance (this could happen anyway if they have other types of ISA) and there is always the risk that if the ISA transfer takes a while then both providers might independently report your contributions to HMRC at the end of the tax year which would look like you broke the rule about only contributing to one of each type of ISA that year.

Scrudgy

Ok thanks, I will just sit on the cash until the transfer is complete to be on the safe side.

soulsaver

Scrudgy said:

Hi all

I have started a transfer of a S&S ISA from Halifax Share Dealing to Fidelity. As I had funded the old ISA during the tax year, does any one know if I can fund the new Fidelity ISA now while the transfer is in progress? Or do I have to wait until the transfer is complete?

Many thanks.

Easily and best answered by Fidelity.