Viresh Mistry
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Transfer and usage of ISA allowance
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)?