ISA Transfer Rules

Aminatidi

I have a GIA with IWeb and an ISA with Vanguard.

The Vanguard ISA is the only ISA I have and I have paid the full £20K into it in the 23/24 tax year.

Can I open an IWeb ISA and transfer the Vanguard ISA into it?

Obviously I can't add any new money to it until the 24/25 tax year starts.

I thought the answer was a firm yes but I think I'm confusing myself with some of the conflicting stuff I've read online including from HMRC on their community forums about how many ISAs you can open.

ColdIron

Aminatidi said:

Can I open an IWeb ISA and transfer the Vanguard ISA into it?

Yes you can. You need to keep all this year's subscriptions together so move the whole £20,000

Albermarle

 but I think I'm confusing myself with some of the conflicting stuff I've read online including from HMRC on their community forums about how many ISAs you can open.

If you read through the ISA sub forum, you will hopefully be confused no longer !

ISAs & tax-free savings — MoneySavingExpert Forum

Martyn_H

Wouldn't the OP then have a minimum £20,001 invested in the new ISA?

eskbanker

Martyn_H said:

Wouldn't the OP then have a minimum £20,001 invested in the new ISA?

Where would the extra £1 come from, if the new ISA was funded exclusively via the transfer?