Stocks and Shares ISA Transfer

2stixoftwixes

I have Vanguard stocks and shares Lifestratagy 60 ISA with a large sum invested
As interest rates are now climbing and I'm getting close to retirement I may soon be thinking about taking the money out.

I know it has to be transferred to keep the tax benefits, however, I'm not sure of the process

Do I sell the stocks and shares in Vanguard and convert them to cash,  then get the bank to transfer the ISA  in,  or
do I instruct my bank to transfer the ISA in and Vanguard sells the stocks and shares as part of the process

Can I just transfer 50% of the ISA or do I need to transfer all of it

bit confused and I can't find the answer on Vanguard only how to transfer in!

Many Thanks

eastmidsaver

i imagine the cash isa will contact VG and at that point VG will sell it,  and then transfer cash over.  but this is just an assumption.
in terms of whether you can part transfer,  that's usually down to the new provider on whether they do this or not
so you are probably best ringing both the new provider you thinking of joining,  and also VG too,  and get advice from them.

Notepad_Phil

If you have a substantial amount in the ISA and you want to know exactly how much money will get transferred then you may want to consider firstly manually selling on Vanguard before submitting the request to transfer to the cash ISA.

If you don't then there is the possibility that the sell instruction gets actioned during a downward turn and you get a chunk less than you were expecting when you started the transfer request - though of course there is a similar chance that the market takes an upward turn and you could then have got a chunk more.

Though this could get complicated if you are only transferring a percentage of the S&S ISA as you'd presumably want to keep the rest fully invested in case the market goes into an upward jump. Hopefully the transfer forms would allow you to specify what was to be transferred.