ISA Transfers and new ISAs

Hi carolhlt.uk,
Interest earned in ISA accounts is tax free.
Thank you.

Hi HMRC team, I had put in £20,000 into an ISA account and the fixed term had ended, the interests earned is £900 so there is total of £20,900 in the account now, I intend to transfer to a new ISA account, am I only allowed to transfer £20,000 or I can transfer all £20,900? Grateful for your reply and TIA for your assistance.

Hi,

You can see guidance here:

Individual Savings Accounts (ISAs)

Thank you.

Hi I have read through the link provided but it does not answer my question. I had put in £20,000 into an ISA account and the fixed term had ended, the interests earned is £900 so there is total of £20,900 in the account now, I intend to transfer to a new ISA account, can I transfer £20,000 only or can I transfer all £20,900? Grateful for your reply and TIA for your assistance.

Hi HMRC Admin, The 24/25 FY ISA ‘splitting’ rules are still causing confusion. My wife and I put 25% of our ISA allowance into accounts held for many years. Due to FSCS concerns, 25% was also put into new cash ISAs (fixed term) with another supplier. We intended to put the remaining 50% into these new accounts when the funds became available. However, when these funds became available, we were told we could not add them to the second ISAs. We now have 50% of our annual ISA allowance sitting in taxable limbo. Pursuing opening another cash ISA (fixed term) with the remaining allowance we were told we could not as current HMRC rules prohibited this. We were also told to contact HMRC to find out if we had broken their ISA rules by opening the second cash ISA accounts. HMRC appears to have answered the ‘splitting’ question months ago, however, this continuing problem seems to be due to suppliers not understanding it and/or their IT systems being incapable of handling it. However, not wishing to break current HMRC ISA rules, should we have opened the second cash ISA account, and are we entitled to put our remaining 50% allowance into a cash ISA (fixed term) with a third supplier? Thank you

Hi snapplepeach,
You can transfer all of it but in order to do so, the transfer will need to be arranged through your provider.
Thank you. 

Hi ,
 

Please refer to guidance at : Individual Savings Accounts (ISAs)    . HMRC cannot offer any sort of financial advise and you therefore may wish to seek the services of a financial adviser  .

Thank you .