Stocks and Shares ISA to Fixed ISA

sweepsd

Hi

I have a Vanguard Lifestrategy 60 S&S ISA.  It's been pretty flat for a while so I'm thinking of moving to a fixed rate cash ISA.  Not all Fixed Rate ISA allow a transfer in, could I transfer it to an easy access ISA and then to the Fixed rate ISA?  The S&S ISA isn't a new ISA.

TIA

eskbanker

sweepsd said:

Not all Fixed Rate ISA allow a transfer in, could I transfer it to an easy access ISA and then to the Fixed rate ISA?

If you're looking at a fixed rate cash ISA that doesn't allow a transfer in, then going via an easy access one won't circumvent that?

Or did you mean that it specifically doesn't allow a transfer in from a S&S ISA but does allow one from a cash ISA?  If so, then a two-stage transfer should indeed work....

Albermarle

I have a Vanguard Lifestrategy 60 S&S ISA.  It's been pretty flat for a while

In fact like many investments it is down over 21 months by over 10% since the peak near the end of November 2021. But still 15% up over 5 years.

The question of course is now the right time to pull out. Normally when investments are at a low, selling means crystallising the loss and missing out on any upturn. 5% fixed return might do better in the short term but probably not long term.

sweepsd

eskbanker said:

sweepsd said:

Not all Fixed Rate ISA allow a transfer in, could I transfer it to an easy access ISA and then to the Fixed rate ISA?

If you're looking at a fixed rate cash ISA that doesn't allow a transfer in, then going via an easy access one won't circumvent that?

Or did you mean that it specifically doesn't allow a transfer in from a S&S ISA but does allow one from a cash ISA?  If so, then a two-stage transfer should indeed work....

Thanks - yes the second statement is what I meant

basedinhull

I have just moved a Hargreaves Lansdown Stocks ISA to a Nat West fixed Rate cash ISA.  It was just under £20000, 

I had made no payments into the old ISA in the current tax year and want to use my 2023/2024 allowance to pay in an additional £20000.

However, Nat West wont allow me to do this because they say that HL selling the shares in 2023/24 is like making a new payment and uses up the new allowance.

Anyone know the rules here?

Doctor_Who

If you used the official Nat West ISA transfer process then the money never left an ISA wrapper (be it stocks and shares or cash) so I can't see how it can be classed as a new subscription. If you sold the HL S&SISA and withdrew the money to subscribe to the Nat West ISA then that would be a new subscription.

The Gov.uk link below says: You can transfer your savings to a different type of ISA or to the same type of ISA.

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

dunstonh

However, Nat West wont allow me to do this because they say that HL selling the shares in 2023/24 is like making a new payment and uses up the new allowance.

Probably a miscommunication.  If you described it as a transfer it is wrong. You can transfer it.   If you described it as selling the investments to cash then they could interpret that as a new contribution.