CAN I DO THIS?

dec9

3yrs ago I opened a stocks and shares ISA with about £1500. I have never put any money in or taken it out since opening. Its done nothing except go down a little.
Since then I have each year opened a new Cash ISA with different providers and always put the £20k max in. 
With it being 3 yrs old and never put any money in can I transfer the stocks and shares ISA to another providers cash ISA and top it up to the max £20K?

Flugelhorn

dec9 said:

3yrs ago I opened a stocks and shares ISA with about £1500. I have never put any money in or taken it out since opening. Its done nothing except go down a little.
Since then I have each year opened a new Cash ISA with different providers and always put the £20k max in. 
With it being 3 yrs old and never put any money in can I transfer the stocks and shares ISA to another providers cash ISA and top it up to the max £20K?

you can transfer it to another provider as a cash ISA (I did this ... took forever but think I was unlucky!)  but  you would only be able to top it up at all if you have not already used your allowance this year (and sounds like you have already put 20k somewhere else ?

400ixl

I'd be more inclined to look at what the S&S ISA is invested in as typically S&S's have out performed cash ISA's over the last 3 years.

You appear to be very cash heavy as it is.

PRAISETHESUN

The £20k limit is the deposit limit for each financial year, not for each account. You can move existing money between providers using the ISA transfer process, but if you've already paid £20k into another account this year then you will not be able to also top up the account which holds £1500.

dec9

Thanks everybody you've answered my question.
And Flugelhorn I was going to top it up with money from a normal savings account

jimjames

dec9 said:

Thanks everybody you've answered my question.
And Flugelhorn I was going to top it up with money from a normal savings account

What is it invested in? A global tracker would be about 40% up in the last 3 years so something not growing at all sounds very odd

wiseonesomeofthetime

jimjames said:

dec9 said:

Thanks everybody you've answered my question.
And Flugelhorn I was going to top it up with money from a normal savings account

What is it invested in? A global tracker would be about 40% up in the last 3 years so something not growing at all sounds very odd

Agreed. Just checked my S&S ISA and it's value has increased by 37.70% todate.
That is 20k 2021, 20k 2022

eskbanker

pleataring said:

I think it is better to consult your ISA provider or financial advisor to avoid unforeseen situations.

Better (or should that be botter) than what, exactly?