MAXI to MINI ISA

mda160

Is it possible to transfer from a MAXI – Stocks and Shares (say Halifax) to a MINI cash (say ABBEY)

Transfer value = Say £9K

Any ideas?

dunstonh

No it isnt.

However, you can transfer out of stocks and shares into low risk corporate bond, index linked or gilt funds.

Milarky

Shares into cash won't go...!

However, you CAN move the value of a Maxi ISA to a Mini Equity ISA as this will allow you do the following:

1) Pay in to a Cash ISA...
2) Pay more into an Equity ISA...
in the same tax year. The one proviso is that your most recent subscription to you Maxi ISA was in the previous tax year - otherwise you must wait until next April before paying 'new' money into mini ISAs

DD,

Some 'Maxi' ISAs can contain 'Mini' components within them, can they not? Would this not mean that such an account could be spilt into Shares, Cash, Insurance Mini ISAs or have I got that mixed up with something else?

Thanks in advance

dunstonh

Some 'Maxi' ISAs can contain 'Mini' components within them, can they not? Would this not mean that such an account could be spilt into Shares, Cash, Insurance Mini ISAs or have I got that mixed up with something else?

I believe there are some providers that did all three componants. It had to the same company and not a subsidiary or seperate marketing company. Therefore you could have a maxi ISA in insurance, equities and cash. More companies offered two components but many companies had problems that their life & pensions arm was not the same company as the banking arm.

A couple of examples were Legal & General who offered cash and equity and Pearl who offered insurance and equity. Standard Life do cash and equity.

However, once you paid money into a componant, ie equity, you couldnt switch that to cash. In this case its the component that is the issue not the MAXI/MINI classification.