Isa transfer and new isa
in ISAs & tax-free savings
5 replies 311 views
I would like to transfer an existing, but inactive ISA to a new account, but I have just setup a new ISA with a full payment £20K.
Is it possible for me to do this within that ISA rules.
I assume it is not as that would mean the old ISA regains active status, but would like to clarify please.
Latest MSE News and Guides
Did you know there's an MSE app?
It's free & available on iOS & AndroidMSE App
Regifting: good idea or not?
Add your two cents to the discussionMSE Forum
Energy Price Guarantee calculator
How much you'll likely pay from AprilMSE Tools
I am sure it is not inactive and will be gaining interest if it is a cash ISA, or values will be moving around if it is stocks and shares ISA.
Just because you are not adding to it does not mean it is inactive.
However, this is a moot point, as I don't believe that transferring it renders it active again as such, but even if it did the rule only relates to paying new money into one ISA of each type in any tax year, rather than having two deemed as active....
There have been plenty of threads about this over the years, such as https://forums.moneysavingexpert.com/discussion/5421152/transferring-an-inactive-isa
Edit: corrected, as below