Funding old S&S ISA after transfer

hp161

Hi all,

Please excuse me if this has already been asked, but I couldn't find an exact match.

I recently opened a new S&S ISA with provider B and am in the process of transferring my existing (full) portfolio from provider A to save on holding costs for long-term holdings. I have not added any funds to either of the providers this tax year.

Since there are some options on platform A that I would like to trade in, I would like to know whether it is possible to fund the old ISA in this tax year, or does opening the new ISA mean that I can only fund that one?

Many thanks for your help!

Mark_d

From this tax year you can contribute to multiple S&S ISAs in a tax year, providing the the total contributions are no more than £20k. So in theory you contribute to both accounts this tax year if you want to.

Provider A may well put a freeze on your account whilst the transfer to Provider B is in progress - because you are transferring your full portfolio.  However you may be able to call Provider A and discuss what you want to do.

hp161

Thank you very much! I didn't realize that there was this change in the contribution rules - this is incredibly helpful!