S&S ISA transfer

tomsocr

Hoping someone can give me some guidance on transferring my ISA from Halifax to trading 212. I have subscribed £5000 to Halifax ISA share dealing this tax year, while the remaining £15000 with trading 212. I purchased some shares with Halifax say Share A on 8th April 2024 with the £5000 subscription. I then sold some shares say Share B from a previous tax year for just under £4995, now held as uninvested cash. I put in a partial transfer for this tax year with trading 212 for the £4995. However after speaking with Halifax they say I can only do partial for previous tax years.  What will happen if I put in a full request(presuming the partial will be denied by Halifax) for this tax year. Will they ignore the fact that I have £4995 in uninvested cash because they are from shares Share B sold from previous tax year purchases, but instead sell Share A for what is probably worth £7000 as these shares were bought in this tax year.

The reason I want to do current tax year is to make use of the trading 212 1% cashback which is for this tax year only. 

Probably easier to forget the cashback with trading 212 and just put in a partial transfer for this £4995 but previous tax year. 

Just wondering how Halifax determine what shares were bought, when and they would have to work out what to sell, or would I have to work that out and instruct trading 212 what to sell from shares bought with Halifax this tax year?

Any advice?

Yorkie1

Share B is a previous tax year, so that would be fine to transfer in this tax year.

Scot_39

With cash ISAs containing a mix - you normally just have to confirm to the bank - whether you are transferring current year in full - or previous years in part.

I've even run into it when trying to split account on a part balance internal transfer at my building society from a variable rate to a fix rate ISA.

The bank has to know for when you might just transfer it later in the tax year.

If the same rule applies - surely the share B style funds aren't covered by the full transfer rule.

Ah just seen your 1% bonus 

Is it too late to reduce the £15000 in cash one assumes slightly - to adjust for any overshoot on the share A £5000 fornow - then top up to the full £20000 once knwo the full tansfer of share A value.

But you might find with a couple of buy and sell commissions and recent Trump market jitters it's not worth the full £5000 anyways.

And if over - won't they just return the excess in cash anyways at your request  before any taxable returns due ?

From HMRC forum - some people make marginal mistakes all the time - and accounts for the excess - simply lose tax free protection in the worst case.

Speak to trading 212 and explain the problem - and see what they advise (assuming you can get hold of them - as an APP based account and offering top rates in EOY ISA season - how good is their customer service ??)