We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a very Happy New Year. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Full ISA Guide Discussion Area

1…2627293132…97

Comments

  • daleuk_3
    daleuk_3 Posts: 299 Forumite
    can I fully close this years stocks and shares isa, withdrawing all funds, then open a new one?
  • scrooge09
    scrooge09 Posts: 1 Newbie
    Hi folks

    Can anyone advise - I have a self select shares ISA and am getting nervous about the market. I would like to sell the shares and keep the money in the current years ISA wrapper to use at a later date, maybe in the next financial year. Is this allowed?
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    scrooge09 wrote: »
    Hi folks

    Can anyone advise - I have a self select shares ISA and am getting nervous about the market. I would like to sell the shares and keep the money in the current years ISA wrapper to use at a later date, maybe in the next financial year. Is this allowed?

    Yes it is.
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    It is allowed, the problem maybe, is that the interest you receive will be pathetic ... and will be taxed!
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    If it's in the ISA wrapper then surely it won't be taxed?
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    JimmyTheWig wrote: »
    If it's in the ISA wrapper then surely it won't be taxed?

    Cash in a S&S ISA is taxed. Cash inside a Cash ISA is not.
  • cheerfulcat
    cheerfulcat Posts: 3,414 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    daleuk wrote: »
    can I fully close this years stocks and shares isa, withdrawing all funds, then open a new one?

    Better simply to transfer your ISA to your new provider.
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    JimmyTheWig wrote: »
    If it's in the ISA wrapper then surely it won't be taxed?
    In a S&S ISA it will be taxed. That's why I said it would.
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Ooh, I'd never heard of doing that.
    Thanks.
  • neotheone_2
    neotheone_2 Posts: 3 Newbie
    I have a cash E-ISA with natwest and I have deposited £3800 in it, will I be taxed with all those savings in there? What should I do now to avoid that? Thank you.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.8K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 260K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture