Transfer SS ISA then add Funding

karl10247

Hi all,

I have a simple question if you could be clarify for me.
Within the last month I have opened a new stocks & shares ISA and funded it using the 20k 2023/2024 allowance. I dont particularly like the platform though so come April 6th i intend to open a new stocks and shares ISA and transfer.
I will be wanting to add the 20k 2024/2025 allowance into the new ISA also.

My question is, can i transfer my existing 20k and add 20k to the new ISA at the same time? 

Or is it best to add the 2024/2025 allowance to the existing ISA then transfer?

Thankyou in advance

amanda1024

karl10247 said:

Hi all,

I have a simple question if you could be clarify for me.
Within the last month I have opened a new stocks & shares ISA and funded it using the 20k 2023/2024 allowance. I dont particularly like the platform though so come April 6th i intend to open a new stocks and shares ISA and transfer.
I will be wanting to add the 20k 2024/2025 allowance into the new ISA also.

My question is, can i transfer my existing 20k and add 20k to the new ISA at the same time? 

Or is it best to add the 2024/2025 allowance to the existing ISA then transfer?

Thankyou in advance

It generally takes longer to transfer then to add new money, so the best thing to do is probably to:
- open new S&S ISA now and initiate transfer
- add next year's £20k on or after April 6th
It's likely next year's £20k will turn up first. No point in adding the 24/25 allowance to the existing ISA.