Single Company ISA to Cash ISA.

Warslet

I am 73 and have Lloyds Bank shares as a Single Company ISA and ordinary shares (retired employee). Total of about £22k.  Dividends are re-invested. The ordinary shares are held solely by myself and OH and the dividends reinvested don’t exceed the personal allowance for dividends. I am considering transferring the Single Company ISA to a cash ISA or S&S ISA (balanced fund) to reduce the risk level of holding single company shares. I don’t envisage them getting to the price level they once were.  I can’t find information about transferring to a cash ISA. Transferring to a S&S ISA would be through somewhere like iWeb or the like as I understand it. I am currently with EQI and could do through them. I don’t want to lose the ISA wrapper and they are previous years’ ISAs. I don’t need the proceeds and won’t likely ever to need the proceeds. 

The dividends received are less than investing in say a cash ISA at current rates. I realise I would forego the gain on any share value increase but also not suffer a capital loss on share value decreases. There is no liability on CGT on the non-ISA ordinary shares. I know I can just sell the ordinary shares and use the funds to invest. I have used all but £5k of my ISA allowance in a Cash ISA for this tax year.  

Is it possible to transfer from a Single Company ISA to a cash ISA or given the risk profile of the current Single Company ISA v S&S ISA and I don’t need the funds would the latter be the way forward. 

Thank you. 

masonic

You should be able to transfer the ISA to any other ISA that accepts transfers.