dawn
Member of DD Central
Posts: 308
Likes: 275
|
Post by dawn on Oct 31, 2019 10:09:41 GMT
I have an MT non-ISA account and an ISA account. I can easily transfer money from my ISA account into the non-ISA account and then withdraw it from there with no charge. Towards the end of the year I can transfer the money back by the reverse route (or direct into the ISA). Currently the money moving is new money from this year that went in back in April. However once that has all transferred out then I also have money from a previous year which will be able to move in the same way. The only criteria for it to retain its tax-free status is that it has to be back in the MT ISA account by close of play on 5th April 2020. Are you sure you have to move it out through the non-ISA? You can withdraw from the ISA, too, and some may not be having both. That is just the way I do it as it works for me and keeps it simpler on my spreadsheets (other spreadsheets are available that may work differently). The main point I was making was that there is no charge for doing this (either direct from the ISA or via the non-ISA account). The only charge appears to be when you want to transfer your ISA funds to another ISA. I often have repayments into both accounts so tend to amalgamate them into one lump in the Non-ISA to do just one withdrawal.
|
|