Transfer last years ISA 20k or 20k AND the interest?

still_love_the_80s

I'm looking to transfer my 2024-25 ISA from YBS who've added the interest to the ISA rather than to my saving account.
Not wanting to fall foul of HMRC, can I only transfer to the new provider the 20k, or the 20k + the near £900 interest.
Many thanks

TadleyBaggie

There are no restrictions on direct ISA to ISA transfers, they don't count towards the £20K limit which refers to money only.

Middle_of_the_Road

still_love_the_80s said:

I'm looking to transfer my 2024-25 ISA from YBS who've added the interest to the ISA rather than to my saving account.
Not wanting to fall foul of HMRC, can I only transfer to the new provider the 20k, or the 20k + the near £900 interest.
Many thanks

You can request a transfer including the interest. The 20k allowance limit refers only to new money.

slinger2

still_love_the_80s said:

I'm looking to transfer my 2024-25 ISA from YBS who've added the interest to the ISA rather than to my saving account.
Not wanting to fall foul of HMRC, can I only transfer to the new provider the 20k, or the 20k + the near £900 interest.
Many thanks

You can transfer the whole lot. There's no limit to how much money you can have in an ISA or transfer between ISAs. There's only the limit of £20k on what you pay in every tax year (total for all your ISAs)

FrugaiMacDugal

Transfer the lot.

You may get the option for interest to be paid monthly, either to ISA or bank/savings account..

You can also add up to £20k as now into the new tax year.

PRAISETHESUN

Personally I'd recommend getting the interest added directly to the ISA moving forward. As above the £20k limit only applies to "new" money. That way the interest will continue to compound within the ISA wrapper and be tax free for future years.