Index Tracker in ISA transferring to Cash ISA??

ncmcdonald

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

debbie42

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.

Aegis

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.

masonic

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

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

The new ISA rules will let you convert cash to shares, but not shares to cash (lol - not "going orft" just yet Aegis)