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Do transfers to new ISA’s break the rules if done more than once in a tax year?
stoicthevast
Posts: 1 Newbie
I had a maturing ISA in July and transferred the money to a new S&S ISA that I had not previously fed with money. I have another ISA maturing this month. Can I transfer the money in that to another new ISA this year?
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Comments
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Yes, that's fine. You can transfer it as often as you like. The rules only prohibit you to £20,000 new money each year - not exisiting ISA money.1
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No problems, there are no restrictions on transferring funds between ISAs.1
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When you say ‘transferred’ did youstoicthevast said:I had a maturing ISA in July and transferred the money to a new S&S ISA that I had not previously fed with money. I have another ISA maturing this month. Can I transfer the money in that to another new ISA this year?
a) use your new ISA provider’s transfer process? Or
b) withdraw the money from the matured ISA & pay it into the new ISA?If it was a) you’re fine
If it was b) we’ll need more info1
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