ISA advice please

[Snowdropsarelovely]

I have a stocks and shares ISA from a previous year which I currently pay a small amount into each month.

Am I correct in thinking that I can transfer (using the transfer form from that provider) - lump sum from my cash ISA without that counting towards my tax free saving this year? And continue to put money in my cash ISA? I haven't yet put any money in and ISA this financial year.

I hope that made sense, and thank you to anyone that can help. I did try and speak to my stocks and shares ISA provider but the lady was new and seemed to know less than I did!!

Hopeful bump !

Yes. Transfers don't affect your ISA allowance. Highly recommend Vanguard. In their website they have a transfer ISA button. They are also fab at answering questions on their messaging system.

Transferring an ISA will usually close it. So if you transfer your cash ISA to S&S ISA then the cash ISA gets closed as part of the process. Check with your cash ISA provider.

The transfer does not count towards this years ISA subscription.

Thank you both of you that is really helpful. With regards to closing the cash ISA I wasn't going to transfer all of the money, just a part of it because it will hopefully get me a slightly better return in the stocks and shares ISA!

Partial transfers may not be offered by the providers, so check if that is something they will do.

Thanks, I didn't realise that- I will check