S&S and Cash ISA's Question

[Ecosseven]

Afternoon all,

I currently have some money invested in different S&S ISA's and am planning on holding these in the medium to long term. I also have some money in a 1 year fixed bond (@4.35%) which matures in November this year. I'm a higher rate taxpayer which means I get taxed on any interest over £500 / year. The interest received from money in my current account and fixed rate bond will put me over this limit and I'm looking to diversify my investments a little going forward to balance risk and tax liability.

With this in mind I'm looking at taking out a cash ISA this year for £20k and reinvesting the remainder in another savings account (either instant access or more likely another 1 year fixed rate bond).

My question is that once my cash ISA matures can I simply move the money to another ISA without using next years allowance? In other words once money is invested in a cash ISA can this be moved to another ISA product (cash or S&S) without using the annual £20k allowance at the point of transfer?

Thanks in advance.

[Mogul]

Yes

[Somebody]

Yes

[Ecosseven]

Short and sweet answers. Thanks both!

[AdamIM]

Ecosseven said:

Short and sweet answers. Thanks both!

Moving the funds must be via an official ISA Transfer

[Ecosseven]

AdamIM said:

Ecosseven said:

Short and sweet answers. Thanks both!

Moving the funds must be via an official ISA Transfer

Noted, thanks.