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Post by befuddled on May 20, 2019 10:16:45 GMT
I can't find anything on their website so I suppose not possible
Anyone know if you can transfer 5yr Everyday funds into existing (2018) 5yr ISA without incurring the 1.5% penalty....
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Post by Deleted on May 20, 2019 10:50:15 GMT
You need to pay the 1.5% penalty on any 5-year funds you transfer (and 0.3% on any 1-year funds).
You can always just transfer the repayments as they come in - there wouldn't be any charges then.
I assume you mean 2019/20 ISA as any funds would be transferred into the ISA in this tax year.
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Post by befuddled on May 20, 2019 11:29:44 GMT
You need to pay the 1.5% penalty on any 5-year funds you transfer (and 0.3% on any 1-year funds). You can always just transfer the repayments as they come in - there wouldn't be any charges then. I assume you mean 2019/20 ISA as any funds would be transferred into the ISA in this tax year. I thought that was the case. The ISA is year ending 2018/2019, so last year's. I understand I can temporarily borrow money from last year's ISA in this tax year, providing I replace it in the same tax year ? If I look at my RS ISA it says I can invest £22k £2k replacing what I already removed this year, and £20k for a new 2019/20 ISA, which I will not be opening at RS. I plan to replace the £2k before April 2020 to maintain full ISA allowance Reason being £22k seems too much for me to now have at RS, but don't want to lose 20K ISA allowance or pay 1.5% - so this is a soft exit strategy....
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Post by Deleted on May 20, 2019 12:04:53 GMT
Yes, you can replace any money you withdraw so long as it is in the same tax year.
If you did use some of this year's allowance, you could still use the remainder of your £20k allowance in a cash ISA or stocks & shares ISA (but not another IFISA unless you transferred this year's payments into it from RS).
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