Transferring 2 ISAs into 1

[ro250]

I have 2 cash ISAs not opened in this current financial year. I was looking to open a trading 212 cash ISA and transfer both of my existing ISAs into it.

I assume that's ok and possible? I've only ever moved one into another so just checking I can consolidate 2?

[bitchstewie]

Yeah it's fine I've done that before with S&S ISAs.

[ro250]

Thanks. And I can make further payments into the new 212 ISA even though I've paid into one of the ones I'm transferring?

[maccboy]

As long as you don't exceed £20k each year.

[ro250]

maccboy said:

As long as you don't exceed £20k each year.

Thanks - Was just mindful of not being able to pay into more than 1 ISA in the same year.

[Jawls]

ro250 said:

maccboy said:

As long as you don't exceed £20k each year.

Thanks - Was just mindful of not being able to pay into more than 1 ISA in the same year.

This rule doesn’t exist anymore, was reformed for FY 24/25.

Pay into as many ISAs as you want, provided you don’t go over 20k total of new subscriptions in a year.

[rugbyleague]

I've got a sticks and shares ISA and a cash ISA, can I transfer between the two without impacting 20k allowance? Just thinking can I take profits from stocks and shares ISA, move to cash ISA and would this be sen as new money,?

[bitchstewie]

Long as you transfer it isn’t new money.

Transferring means it’s all kept in the existing ISA tax wrapper.

[ILikeCake]

rugbyleague said:

I've got a sticks and shares ISA and a cash ISA, can I transfer between the two without impacting 20k allowance? Just thinking can I take profits from stocks and shares ISA, move to cash ISA and would this be sen as new money,?

You must do it as a transfer. Withdrawing the cash from the stocks ISA and paying it into the cash ISA will count towards your allowance.

I did a transfer between providers last year; it took several weeks and was admin heavy. Is there a reason you want to move some cash over? It could be easier to reinvest the profits into stocks/shares within your existing stocks ISA?

[ro250]

Jawls said:

ro250 said:

maccboy said:

As long as you don't exceed £20k each year.

Thanks - Was just mindful of not being able to pay into more than 1 ISA in the same year.

This rule doesn’t exist anymore, was reformed for FY 24/25.

Pay into as many ISAs as you want, provided you don’t go over 20k total of new subscriptions in a year.

Thanks - I'd forgotten that change!

[ro250]

Rather than creating another thread, a follow up question. I had a flexible ISA which at one point his year I took out £15k then put it back.

I've now transferred that ISA to Trading212 and the £15k is currently set as reserved funds while they confirm my allowance.

I'd assumed with it being flexible that withdrawal and redeposit wouldn't count even when transferring but I'm less confident now.

Can anyone confirm?