Transferred & New ISAs & tax allowance

onesixfive

Thanks everyone
it seems my post has now been taken over

friolento

provided you comply with ISA transfer rules, an ISA transfer does not affect your annual ISA allowance.

Meaning you must ask an ISA provider to make the transfer. Never transfer it yourself.

Depending on the T&Cs of an ISA, you can transfer one or more ISAs into it.

If they permit it, you can have more than one ISA with the same provider. You can also have more than one ISA with different providers.

May be also read the MSE ISA guide.

friolento

worth mentioning that the interest rate on renewals are invariably quite bad. Always check for better rates and request transfers as necessary https://moneyfactscompare.co.uk/isa/

smurf1963

so i have two isa coming to an end and will have around £100.000 to invest on a short term one or two years. What would be the best and which would be the safest way to invest ?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82041627#Comment_82041627

Assuming you mean 'save' rather than 'invest', then your best bet will be to review fixed cash ISA rates allowing transfers in, starting at the likes of https://www.moneysavingexpert.com/savings/best-cash-isa/#bestfixedrate

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82041627#Comment_82041627

If you're looking for cash ISAs, then "safest" won't be an issue (you're protected for up to £120,000 with each bank) so you can just look for the best rate. If you know for sure that you won't need access to your money soon, a fixed rate might be better.

masonic

It's worth noting that not all cash ISAs have £120k FSCS protection and no capital risk. There are several cash ISAs that use QMMF investments that have the potential to lose money and there is no FSCS protection for investment loss.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82041922#Comment_82041922

Very good point. MSE's top cash ISA page used to highlight these separately and drew attention to the lack of protection

Albermarle

https://forums.moneysavingexpert.com/discussion/6673297/transferred-new-isas-tax-allowance

A read through the forum would be a good way to familiarise yourself with isa rules and procedures.