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Posted Wed, 08 Nov 2023 16:37:55 GMT by ELAtiVer
I have one S&S ISA, opened >5 years ago. I have not touched it this tax year. Today I funded it with £20,000 (my full allowance for this tax year) but then I changed my mind, so I withdrew the full £20,000 on the same day. This is a flexible S&S ISA, so the "amount available to fund this tax year" showed as £20,000 after the withdrawal was completed. I would like to open a new S&S ISA with another provider, and transfer £20,000 to the new S&S ISA. Is that allowed? Would both ISAs remain tax-free?
Posted Fri, 10 Nov 2023 10:40:36 GMT by HMRC Admin 25
Hi  ELAtiVer,
As you have not paid into the old ISA, yes you can open a new one and both will remain tax free.
Thank you. 

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