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Moving money from flexible cash Isa to S&S Isa
I have a flexible cash Isa and wish to move some of the funds to a S & S Isa. Can I just withdraw and place in stocks and share isa or do I have to use an Isa transfer to protect tax free status???
I am a little confused as I believe I can just move money from flexible cash isa to another sort of cash Isa but do not know whether I can do this to a S&S Isa.
Many thanks
Comments
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Only money you've added within the current tax year can be withdrawn and placed in the S&S ISA without impact on your annual allowance. For money added in previous years (and any interest earned within the ISA) you would need to use an ISA transfer. This is also true for funds moved to a different cash ISA.
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