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Posted 11 days ago by Viresh Mistry
I've searched and read up as much as I can but wanted to clarify something. I have the following accounts in my name: Stocks and Shares ISA (Provider A) Current Account (Provider B) Cash ISA (Provider B) Lifetime ISA (Provider C) The max you can save in an ISA in a tax year is £20k. Say if I save £10k in my Cash ISA, £5k in my Stocks and Shares ISA, and £4k in my Lifetime ISA this tax year, I've used £19k of the allowance this tax year. Now here's the bit I want to clarify: If I want to move money into my S&S ISA, I have to use a bank account (i.e. my current account). Therefore I have to withdraw money from my Cash ISA into my current account, which I then deposit into my S&S ISA. So if I wanted to move £3k from my Cash ISA into my S&S ISA (with my current account as a medium), would this count toward my allowance for the year (given the deposit to the S&S ISA is coming from a non-ISA source and therefore counts as a "new saving", meaning I've exceeded the allowance by £2k), or does it only matter as to how much there is in each ISA on the 5th April (still £19k across all of them)?
Posted 4 days ago by HMRC Admin 25 Response
Hi Viresh Mistry,
This would take you over the limit as it would be seen as 'new' money.
You would need to have flexible ISA  accounts in order for this to be allowable.
Please see: 
Individual Savings Accounts (ISAs)
Thank you. 

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