Post by ladywhitenap on Feb 10, 2022 13:33:26 GMT
I have a IFISA with a P2P platform. I can't imagine that the investments would be transferable so lets assume I can liquidate all those into cash in the IFISA.
I also have built up a new investmant allowance of ~£42K in that IFISA.
If I were to transfer to another IFISA provider, can I transfer the £42k allowance as well as the cash within the IFISA to the new provider?
Logic says yes as the rules allow me to put the 42k into the existing IFISA, transfer to the new provider and then pull out the 42k which would give me a 42k future allowance with the new provider.
But sometimes logic does not work with these things?
TIA
LW
I also have built up a new investmant allowance of ~£42K in that IFISA.
If I were to transfer to another IFISA provider, can I transfer the £42k allowance as well as the cash within the IFISA to the new provider?
Logic says yes as the rules allow me to put the 42k into the existing IFISA, transfer to the new provider and then pull out the 42k which would give me a 42k future allowance with the new provider.
But sometimes logic does not work with these things?
TIA
LW
