Can I do a partial transfer from Hargreaves Lansdown S&S ISA?

Qyburn

Hi,

I have an HL stocks and shares ISA started last year but with some money added thus year. Do you know if i can do a partial transfer out, transferring either just this year's, or just last years?

If it's possible, how would it work? Would HL cash in the exact assets bought with last year's money? 

Thanks

masonic

You should ask them, but in the past they have not supported partial transfers.

El_Torro

Why does it need to be a specific year's money? Once the money is in your ISA it shouldn't matter which money gets transferred out. Just sell whichever investments you want to sell and they will transfer out the cash. 

If HL don't allow it then it's a moot point anyway.

Qyburn

El_Torro said:

Why does it need to be a specific year's money? Once the money is in your ISA it shouldn't matter which money gets transferred out. Just sell whichever investments you want to sell and they will transfer out the cash. 

I've only done Cash ISA transfers before, with those you can't split the current year, so the options were the (1)whole amount (2) all of the current year (3) some or all of past years. You couldn't for example transfer all past years and half of the current year. Nor just half of current year.

I thought rules for S&S ISA might be the same.

But Masonic's answer tells me what I need to know.

masonic

Qyburn said:

El_Torro said:

Why does it need to be a specific year's money? Once the money is in your ISA it shouldn't matter which money gets transferred out. Just sell whichever investments you want to sell and they will transfer out the cash. 

I've only done Cash ISA transfers before, with those you can't split the current year, so the options were the (1)whole amount (2) all of the current year (3) some or all of past years. You couldn't for example transfer all past years and half of the current year. Nor just half of current year.

I thought rules for S&S ISA might be the same.

But Masonic's answer tells me what I need to know.

You are correct that the same rules apply to S&S ISAs. It's only relevant for the current tax year, all previous years are equivalent. I suspect the main reason fewer S&S ISA providers support partial transfers is to discourage people from exploiting their charging structure (for example, drip feeding into a percentage fee platform and periodically transferring out to a flat fee provider to avoid paying the fee on the bulk of their investments).