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Index Tracker in ISA transferring to Cash ISA??

ncmcdonald
ncmcdonald Posts: 14 Forumite
in Savings & investments
Quick question

I currently have a small amount of money in an Index Tracker inside an ISA. Is it possible to move this into a cash ISA instead, I don't know whether it is.

Thanks

Comments

  • debbie42
    debbie42 Posts: 2,586 Forumite
    What sort of ISA is it? If it's a mini S&S ISA then you could just move the money to a mini cash ISA if you haven't already used this years 3K allowance. You can't currently transfer from a mini S&S ISA to a cash ISA. Next year, I think the rules are changing.
    Debbie
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    debbie42 wrote: »
    What sort of ISA is it? If it's a mini S&S ISA then you could just move the money to a mini cash ISA if you haven't already used this years 3K allowance. You can't currently transfer from a mini S&S ISA to a cash ISA. Next year, I think the rules are changing.
    The new rules won't make transferring from a stocks and shares account to a cash account possible though, if memory serves.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • masonic
    masonic Posts: 29,539 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The only way to do this is to sell the fund and then pay the cash into a cash ISA as part of your allowance for that year. You cannot convert shares directly into cash.
  • Brum_Man
    Brum_Man Posts: 80 Forumite
    Aegis wrote: »
    The new rules won't make transferring from a stocks and shares account to a cash account possible though, if memory serves.

    It won't, only the other way around.
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    The new ISA rules will let you convert cash to shares, but not shares to cash (lol - not "going orft" just yet Aegis)
This discussion has been closed.
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