Transferring Cash Isa to Fidelity

Chapunto

I have a cash ISA with Virgin and I'd like to transfer it to Fidelity and put it into an existing Stocks and shares Isa that I have with Fidelity.
Would using this transfered Cash Isa to buy more units in my stocks and shares Isa be classed as putting new money into my already fully subscribed S&S Isa or would it be allowed?

eskbanker

Provided you use Fidelity's ISA transfer process to transfer the cash ISA from Virgin, this doesn't affect, and isn't affected by, your 2023/24 contribution allowance.  That allowance relates to moving money from outside the ISA environment to inside it, and what's done with it thereafter is irrelevant, i.e. if there had been any issue with what you plan, it would be at the stage of getting the money into Fidelity rather than what you buy with it once there.

mebu60

Be aware that you cannot perform partial transfers out from a Fidelity S&S ISA, it is all or nothing. Just something to bear in mind for the future as you grow your investment. 

You can withdraw lump sums in cash but they lose ISA status.