Getting ready for my 2nd year ISA. Quick question!

powerful_Rogue

Sorry folks, probably obvious but didn't have much luck when I was trying to find the answer online.

I placed £20,000 into an ISA with Chip in April 2024. That is now showing £20,837.48

I've just signed up to Trading212 and started the process to transer this across.

Come the 6th April I want to add an additional £20k into the Trading212 ISA.

What happens to the £837.48 interest? Do I earn interest on that or is it disregarded?

eskbanker

The £837.48 is simply part of the balance and earns interest in the same way as the rest.

j_netprofit

I believe you instruct the amount you wish to transfer, at least that was the case when I did this recently with iweb.

eskbanker

j_netprofit said:

I believe you instruct the amount you wish to transfer, at least that was the case when I did this recently with iweb.

Transfer forms will generally offer the choice between nominating a full transfer or a partial one of a specified amount.

hpuse

powerful_Rogue said:

Sorry folks, probably obvious but didn't have much luck when I was trying to find the answer online.

I placed £20,000 into an ISA with Chip in April 2024. That is now showing £20,837.48

I've just signed up to Trading212 and started the process to transer this across.

Come the 6th April I want to add an additional £20k into the Trading212 ISA.

What happens to the £837.48 interest? Do I earn interest on that or is it disregarded?

Hey Rogue,

Hope all well...

The interest earned is all yours tax free, you may wish to transfer to the T212 ISA or to your personal bankaccount for your enjoyment. Happy trading!

Best,

HPUse.