Site Logo
Site Logo

Can I transfer an investment ISA after I have maxed out on a cash ISA in the same year?

05 April 2022

Got a question?We'll put your question to our panel of helpful advisers

Question by Alvin

Can I transfer an investment ISA after I have maxed out on a cash ISA in the same year?


Answered by Andrew Neligan

Hello Alvin,

Yes, it is fine to transfer existing ISAs in any tax year. Transfers do not count towards the annual contribution allowance.

You can also transfer an ISA in the same year that you have contributed to it, but that does not change the £20k allowance.

Kind regards,

Andrew

Answered by

Andrew Neligan

Chartered & Certified Financial Planner

Typically, I work with individuals and couples who have got to the point in their lives that they have important questions about money they want answering. They may be thinking about retirement in the next 5 to 10 years but they are worried they won’t have enough so they want to make sensible decisions now. Or, they really want to retire sooner, but either they don’t know if they can afford to, or they are afraid they will make decisions that they may later regret.