New IFISA to new ISA transfer in same year

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gramsky

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New IFISA to new ISA transfer in same year Jan 17, 2020 8:51:08 GMT

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Post by gramsky on Jan 17, 2020 8:51:08 GMT

This has probably been discussed somewhere before, if it has I can't find it.
I think, according to the ISA rules, if I have already opened and funded an ISA (with the maximum amount of £20,000) in this financial year I can open a new one and transfer money to it from another ISA provided I do not add new money to it.
Is this correct and/or has anyone done this?

Ace Moderator Posts: 5,022 Likes: 5,704	New IFISA to new ISA transfer in same year Jan 17, 2020 9:06:05 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by Ace on Jan 17, 2020 9:06:05 GMT Yes that's correct. I've done it many times. In fact you can open multiple new ones this financial year and transfer any amount of cash from any number of old ISAs.
	I'm an equity investor in AxiaFunder and a minor equity investor in Brickowner, Crowdstacker, Proplend, CrowdProperty, Assetz Capital, Elfin Market, Qardus, Loanpad, Shojin & CapitalRise (and regrettably Fund Ourselves and ABLrate). All info and opinions stated are in a personal capacity. This time next year I'll be a miwionaire Rodders!

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New IFISA to new ISA transfer in same year

Post by gramsky on Jan 17, 2020 8:51:08 GMT

Post by Ace on Jan 17, 2020 9:06:05 GMT