separate P2P ISA funds

preacherman100

Posts: 16

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separate P2P ISA funds Aug 20, 2017 8:56:33 GMT

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Post by preacherman100 on Aug 20, 2017 8:56:33 GMT

Good Morning All
Just a question on P2P ISA.
Say I had a SIPP (where I had already taken my 25% lump sum tax free) and wanted to transfer some funds from it into a IFSA on a P2P platform ,where I already had deposited cash over the year,are the transferred SIPP funds kept separate.
I assume they are for tax reasons.

pikestaff
Member of DD Central

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separate P2P ISA funds Aug 20, 2017 9:11:28 GMT david42 and archie like this

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Post by pikestaff on Aug 20, 2017 9:11:28 GMT

I think what you proipose requres you to take cash out of the SIPP (which will be taxable) and reinvest it into the IFISA.

Having taken the cash out, it is no different from any other cash. Your IFISA would be separate from any non-IFISA funds on the platform but that would be the limit of the segregation. (E&OE)

Last Edit: Aug 20, 2017 9:13:12 GMT by pikestaff

preacherman100 Posts: 16 Likes: 2	separate P2P ISA funds Aug 20, 2017 11:20:04 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by preacherman100 on Aug 20, 2017 11:20:04 GMT OK thanks. So cannot transfer from SIPP directly to IFISA?

marka Member of DD Central Posts: 224 Likes: 175	separate P2P ISA funds Aug 20, 2017 12:51:28 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by marka on Aug 20, 2017 12:51:28 GMT Aug 20, 2017 11:20:04 GMT preacherman100 said: OK thanks. So cannot transfer from SIPP directly to IFISA? You can't transfer directly between any type of pension and any type of ISA (or indeed anything other than another pension)

Post by preacherman100 on Aug 20, 2017 8:56:33 GMT

Post by pikestaff on Aug 20, 2017 9:11:28 GMT

Post by preacherman100 on Aug 20, 2017 11:20:04 GMT

Post by marka on Aug 20, 2017 12:51:28 GMT