ISA transfers - tax savings

joe_9t

I am trying to find out if there are any products out there that you can move stocks and shares ISAs to yet keep the tax free benefits.

My father has some stocks and shares ISAs which due to market volatility have decreased in value lately and he is trying to move them elsewhere without losing the tax free benefits. Is this possible ?

He is due to retire soon so doesn't really want to lock them away for 5 years or so.

Any help or pointers would be great thanks.

liitleblackcat

He can't transfer from a stock and shares ISA to a cash ISA but he can move from one stocks and shares provider to another without losing the tax-free wrapper if he thinks the current provider is not doing too well. If he cashes them in he will loose the tax advantages. It depends on what he thinks the stock market is going to do over the next few years and how long he has had the ISA. Between 2003 and 2007 the FTSE 100 index was doing remarkably well, but there has been a significant downturn since last June (12.5%). If he has made some money over the years, it is probably not the right time to come out of stocks and shares. Sell at the top of the market and buy at the bottom!!