ISA transfer from Stocks and Shares to Cash

plumcloth

Hi - another in-laws ISA question ...
My FiL recently opened a 1-yr Flexible Cash ISA with Barclays, paying 5.25%.
He has an old stocks and shares ISA with a different company, and containing only old contributions, nothing this tax year.
Can he transfer the old stocks and shares ISA into his Barclays cash ISA ? Or would the transfer from stocks and shares to cash make this into a cash deposit, and therefore subject to the £20k limit per financial year ?
Thanks.

eskbanker

Transfers don't affect, and aren't affected by, annual ISA contribution limits, as long as they're enacted via the receiving provider's ISA transfer process.

xylophone

Has he checked that Barclays will accept a transfer in from a stocks and shares ISA?

plumcloth

xylophone said:

Has he checked that Barclays will accept a transfer in from a stocks and shares ISA?

Thanks for your response. Looks like transfers are allowed for a short period ...
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• ISA Transfers-in are allowed into this account. ISA Transfer-in requests must be received within 30 calendar days from the date of account opening. We do not allow Transfers-in to a Cash ISA from an Innovative Finance ISA or a Lifetime ISA.
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LHW99

It may transfer more quickly if the holdings in the S&S ISA are sold first so that it is effectively cash to cash.

As said above you would then need to start the transfer process with Barclays so as not to lose the ISA protection.