Can I do a partial transfer of Stocks and Shares ISA to LISA in current tax year.

evgeniypd95

Hello, 

I am trying to do a partial transfer from Trading 212 Stocks and Shares ISA to Moneybox LISA account for current tax year. The problem I am facing is that Moneybox's app is saying that if I want to transfer contributions made in the current tax year, I need to transfer them in full for the current tax year. This is confusing because I've made 20k contribution this tax year in Stocks and Shares ISA on Trading 212 and the maximum you can deposit to LISA is 4000.

So how will it work? Will only 4000 transfer from Trading 212 to Moneybox LISA or will all 20k transfer with 4000 going to LISA and 16000 going elsewhere? 

masonic

MoneyBox may not have updated their systems to account for the new ISA reforms that came into effect at the start of the tax year. Previously current year subscriptions had to be transferred in full, which prevented transfers in this scenario. T212 has commented on its forums that it intends to introduce ISA flexibility in May at the same time as it launches its cash ISA, so with that you would be able to withdraw £4k and move it yourself to the LISA, which is the easier option all round.