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Reinvesting S&S ISA into Cash ISA
DuxassTight
Posts: 4 Newbie
Last October I cashed in a S&S ISA worth £45k intending to use the cash to part-fund a house purchase. However I am not now going ahead with the purchase.
As neither I nor my partner have used any part of our ISA allowance this tax year, can we both now open cash ISAs or is there some restriction on doing so? I can't find anything that says I can't.
As neither I nor my partner have used any part of our ISA allowance this tax year, can we both now open cash ISAs or is there some restriction on doing so? I can't find anything that says I can't.
0
Comments
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Yes.
You both have the usual £20,000 allowance for this tax year.1 -
You cashed in a S&S ISA and now the money is sitting in your bank account. The fact it was previously in an ISA is no longer relevant - it is history.0 -
Do we know if OP actually withdrew the redemption proceeds to their bank account or if they simply kept them in the S&S ISA ready to withdraw for the house purchase?Albermarle said:
You cashed in a S&S ISA and now the money is sitting in your bank account. The fact it was previously in an ISA is no longer relevant - it is history.
If the latter, OP could instruct a ISA transfer from the existing S&S ISA to a Cash ISA."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0
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