19
Jun
2019
A question about : How to transfer from Investment ISAs to Cash ISAs
Hi,
All advice is most welcome!This is my first attempt to post a question here, so please be patient!
Over the years I have been using my ISA allowance to invest in ISA funds held in the Fidelity Supermarket.I would now like to transfer some of those funds to a safer cash ISA.
My questions are:
Is this possible, without losing the ISA tax protection?
How do set about transferring these Investment ISA funds to the safer cash ISAs?
Many thanks for all comments.
Best answers:
- Yes, it's possible.
You have to use an ISA transfer form from your cash ISAS provider.
It's not worth doing as interest rates on cash are very poor. The smart money is moving in the opposite direction to yours. - You need to ask your chosen cash ISA provider to transfer the money for you. It will be easiest if you sell the appropriate investments first so that you have cash sitting in your S&S ISA, ready for the transfer. You must ensure with your S&S ISA provider that the proceeds of your sale will be kept in the ISA.
- Many thanks for your advice. I agree with you, I just wanted to be ready for when I do choose to move it!
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