Transfer part of stocks and shares ISA to cash ISA

w00519773

I have about £35K in a Charles Stanley Stocks and Shares ISA.  So far this tax year; I have paid £3,300 into it.  About 15K is currently held in cash earnng no interest.

Further to my last question here: Choosing a savings account - Page 2 — MoneySavingExpert Forum I am thinking about opening a cash ISA with Virgin money: 1 Year Fixed Rate Cash ISA Exclusive | ISAs | Savings | Virgin Money UK.  If I have read this: Stocks and shares ISAs | MoneyHelper.  If I "transfer" the 15K held in cash i.e. part of the stocks and shares ISA then will it count towards this years allowance? 

Albermarle

The fact that is held in cash is not relevant.
You have added £3,300 in new money to the ISA this tax year, so you have £16,700 of the allowance left.

As part of the transfer you must transfer this £3,300 and then you can add £16,700 to the new ISA.

The issue is whether either the S&S ISA or the cash ISA, will allow part transfers, as some do not.

Sisyphean_Task

If you have paid into an ISA during a tax year, I think you can only transfer the whole ISA anywhere else.

If you want to transfer money you’ve invested in an ISA during the current year, you must transfer all of it.

For money you invested in previous years, you can choose to transfer all or part of your savings.

https://www.gov.uk/individual-savings-accounts/transferring-your-isa

Keep_pedalling

As your short term plan is to pay off your mortgage in just over a year You may be better off holding this cash outside an ISA.

w00519773

Keep_pedalling said:

As your short term plan is to pay off your mortgage in just over a year You may be better off holding this cash outside an ISA.

Why is that? I would store the money in an isa for the one year fix term and then pay off the mortgage a few months later?