Partial ISA transfer from HSBC

Kinghstella

I have a standard Cash ISA with HSBC worth £50k. I have contributed £12k to it in the current tax year. Can I do a partial transfer out of £40k to a stocks and shares ISA with another provider? I’m getting confused by reading online!

ColdIron

Yes is both providers accept partial transfers

Ch1ll1Phlakes

From HSBC Cash ISA Terms and Conditions.

As you cannot transfer only a part of your current year deposits (see point 2) but can transfer all or part of previous year deposits (point 3), based on the info you have provided you could transfer £38k (all of previous year deposits) or £50k (previous year deposits + current year).

Hope this helps. If you're still confused just shout.

masonic

Ch1ll1Phlakes said:

As you cannot transfer only a part of your current year deposits (see point 2) but can transfer all or part of previous year deposits (point 3), based on the info you have provided you could transfer £38k (all of previous year deposits) or £50k (previous year deposits + current year).

...or £12k current year deposits and £28k previous year deposits to make up the £40k. Which I'd think would be the preferred way of doing it. On the transfer form that will be a partial transfer request for £40k that includes current year subscriptions.

Kinghstella

Thanks all. That makes sense. 

Ch1ll1Phlakes

masonic said:

Ch1ll1Phlakes said:

As you cannot transfer only a part of your current year deposits (see point 2) but can transfer all or part of previous year deposits (point 3), based on the info you have provided you could transfer £38k (all of previous year deposits) or £50k (previous year deposits + current year).

...or £12k current year deposits and £28k previous year deposits to make up the £40k. Which I'd think would be the preferred way of doing it. On the transfer form that will be a partial transfer request for £40k that includes current year subscriptions.

Sorry my bad this is perfectly good too. Thanks @masonic