Great video, thank you for sharing. I've just put some new money in to an existing S&s ISA. I have an older S&S ISA which i wish to transfer to a cheaper broker. With the new rules, can i transfer the old S&S ISA to a new broker (new S&S ISA)? Im thinking yes, but can only add new money to the S&S ISA i have already started to pay in to. Can i also choose to transfer stocks from my old S&S ISA in to a new S&S ISA? The rules are confusing and my old S&S ISA has both stocks and funds.

Can you transfer the interest earned as well .

Hi,i have a fixed rate isa with virgin money,i also have an instant saver/bond with virgin which is due too mature,my question is when the bond matures could i transfer part of the money into the isa ? Also the isa is a 2 year fixed which matures in November,am i allowed to transfer it into a 1 year fixed also with virgin even though the 2 year one hasn’t matured yet ? Hope all this makes sense,kind regards paul.

what's the best interest rate on the market currently for a transfer? I was looking at plum but the interest is only 4.29% for transfers

If I have Isa with one provider invested in their specific fund but want to transfer to a different Isa provider and invest there in a different fund, can I do it? How?

Hi there, inopened cash isa this financial year bit now realising its paying very low interest rates where as Virgin is offering better rates. Can I transfer moneybfrom my old ISA to ISA within this financial year i.e. before 6 april 2024 now?

Silly question: If you transfer money from a matured isa from a previous tax yr into your current isa do you earn interest on the full balance or only the money you’ve invested in this tax yr? Presumably the ideal is to invest up to the yearly allowance then once it s matured and your in a new tax yr transfer it all to a new product and repeat?

Can I withdraw money from ISA account before I move abroad to avoid tax on profit ? What if I leave money in my S&S ISA without adding any new, do I need to pay tax on profit ?

I opened an isa on the 2nd April for 23/24. Can i transfer it and add my full allowance for 24/25? Thanks

Anyone know what will happen in my situation: Paid £20k into a Stocks & Shares ISA this tax year, then done a partial £4,000 transfer into a Lifetime ISA with the same provider. I was under the impression that if I didn't use the LISAs £4k allowance I would lose it and I wanted to guarantee the 25% bonus. The ISA provider now thinks I've overpaid £4k over the 20k allowance. Will I not be eligible to receive the 25% bonus? Or will HMRC tax the interest earned from the 'overpayment' within the LISA?

Can I ask when my ISA matures and I am transferring to a new ISA the full amount £20k I want to withdraw the interest only to my nominated bank account. Does that affect the tax status on the interest?

So if you have £20k in a isa you can add another £20k in the new tax year to the same isa? Making £40k in said isa?

@its1me1cal

2 ай бұрын

Yes

@markwaudby

2 ай бұрын

Yes thats correct

@SuitSquadTeam

2 ай бұрын

Every tax year you can put 20k in it

@s.khanii

2 ай бұрын

What if i want to transfer my isa in my 14yrold savers account which she can only withdraw whn shes 18 plz advise

@SuitSquadTeam

2 ай бұрын

@@s.khanii you will need to open up her own isa account when she is 16 or over, your account you should only take the money out for her to put into her account when your isa matures. If you do take it out you will most likely be charged a huge fee for doing so.

I have a fixed cash ISA that matures in August 24. I want to open a new cash ISA on April 6th and start to put money in it and then come August 24 transfer in the old ISA into the new one I’ve created. Is this possible ie open a new cash isa but transfer in old isa much later in the year? Or can I only transfer an old isa at the time of creating the new isa?

Yes but you are allowed to open only one cash isa per financial year. So you can’t transfer more than once a year(only if you have more isas opened previous years) is that right? Ty

@markwaudby

2 ай бұрын

I think they are changing the rules from this new financial year April 6th that you may open multiple ISA s of same kind as long as you dont exceed the maximum limit of £20,000 across the lot.

@ciaoatutti11111111

2 ай бұрын

To pay in just one cash ISA.. Is more accurate, but yes for this tax year finishing, i think you are right

Still a bit confused. So can we as of April pay into multiple ISA of the same type?(

@raj080288

2 ай бұрын

you have to pay into only one ISA account until 5th april 2024 but can still transfer funds from an old ISA to a new ISA. After 6th of April 2024, you are allowed t pay money into multiple ISA account from what i understand

@ciaoatutti11111111

2 ай бұрын

Where old Isa means ISAs that have not being paid with current tax year?

@ojtechml

2 ай бұрын

Multi accounts of the same type. Which previously wasn't allowed. It gives you more flexibility but it makes it more of a pain to track your allowance because the deposit amounts are not shared between providers

So if you transferred from one to another say at end of February… do you have a 20k allowance till the 5th April, then another 20K from the 6th for the next financial year?

@its1me1cal

2 ай бұрын

Yes

@markwaudby

2 ай бұрын

Yes correct

@HazelBunnieNutLoops

2 ай бұрын

Only if you haven't already used the allowance this tax year.

I have money in my trading 212 investment account. Any ideas on how can I transfer it to a Stocks & Shares ISA?

@fedemenni

2 ай бұрын

you can't. you need to sell everything from the investmeent account and rebuy it in the ISA account. this is what I need to do too! :(

It seema that a lot of these banks don't understand the rules, when i opened a new isa with one provider and asked for a partial transfer of old monies, they ended up transferring it all and closing my old isa account. When I aked my old provider to accept a partial transfer back of only old monies they refused because I had made contributions to the new isa and said this would mean I had opened more than one new isa in the tax year. even though I was not transferring the new mony.

@markwaudby

2 ай бұрын

They should have made it clear to you that they dont accept partial transfers and asked you if you would like to proceed with a full transfer instead.

@barrydwyer2039

2 ай бұрын

The isa transfer form had boxes for either a full or partial transfer and I was very specific about the amount of old monies to be partiallly transferred they had no probem acccepting my instructions. They failed to carry out these and ended up closing my old isa account by transferring the entire amount. We are currently trying to have this problem rectified.@@markwaudby

Can you actually transfer just some money (but not all) of an existing ISA?

@maninthestreet01

2 ай бұрын

From the 6th April onwards, yes you can, but not before that date.

@deductionism

2 ай бұрын

@@maninthestreet01 Thanks

Nightmare trying too transfer fixed cash ISA from Halifax too invest engine. Halifax need wet signature and forms don't have loss acceptance on forms gave up in end 😞

I’ve got an isa that will mature on 5th April for £20k. I’ve also got another £20k in cash ready to put into a new isa. Can I transfer original isa to a better paying provider and at the same time open a new isa with the £20k cash with a different provider. Or can I open a new isa with new cash then transfer the old isa into it making it £40k.

I'll be honest I'm hesitant to use any sort of isa transfer function.. The idea of my money being stuck in limbo for up to 15 days or possibly more doesn't agree with me and if you look hard enough you can see people have had issues with these transfers before.

My husband retired last year and he gave me the maximum £20,000 to put in an ISA in my name as he had already opened one that he couldn’t add in to. This was in August 2023, will I have to transfer into another ISA before 6 April 2024 or will it stay in the original ISA until August 2024, sorry it may seem a silly question but we have never had an ISA before last year and it is confusing.

@markwaudby

2 ай бұрын

You can keep the money in that ISA for as long as you like, when the new financial year begins on April 6th you will then be able to contribute new money up to the £20,000 limit into the same ISA and so on year after year.

@traceywilliams5985

2 ай бұрын

@@markwaudby Thank you for that, could I ask, if I opened a new ISA in the new financial year with a different provider, as long as I checked that transfers were allowed could I add my original ISA when it matures in August 24 into new one or would I have to wait until the following tax year to transfer

@HazelBunnieNutLoops

2 ай бұрын

If its in a fixed rate ISA there would be a penalty for moving it before maturity but there's no reason to keep it with them if rates are better elsewhere at that point. In April you can open a separate new one wherever you like.

@traceywilliams5985

2 ай бұрын

@@HazelBunnieNutLoops Thank you

@markwaudby

2 ай бұрын

@@traceywilliams5985 Hi Tracey, once your original ISA has matured in August i dont see there being any problem transferring it to your new ISA in the new financial year.

When you transfer your isa does that include the interest you have made in the previous one or does the interest count towards you new £20,000 limit ?

@HazelBunnieNutLoops

2 ай бұрын

It can stay with the moved money and you still have the full £20k you can deposit the following tax year.

85k protection is on cash only isn't it?

@ojtechml

2 ай бұрын

Sometimes on stocks too. I know that stocks with trading 212 have some deal with chase because that's where the money is deposited. If you have seen the 5.2 pc on t212, that's not protected by fcsc because it's in money market funds. But if its in normal stocks then it is protected. It's all a bit confusing. You have to often read the t and cs for your provider. Probably vanguard supports fcsc as well but not sure.

I Have 30k Would You Say Put 20K IN AN iSA and keep The Rest In A Savers AccountTo Avoid Tax? PS Love Your Channel Mate.

@kloppsippingvarsenaltears2789

2 ай бұрын

Exactly same situation as you. Put the 20k in a cash ISA and the 10k in a easy access saver account. Then if you want you can put the 10k into the cash ISA in the new financial year in April.

Fantastic explanation Andy However, I'm reading some damn stupid questions in this comments section.