Andy Wilde

Hi there - just to follow up I have been advised of the below from Trading 212 (the platform I use) which correlates to my initial understanding which I was seeking your confirmation on. "You’re correct—any interest earned on your Cash ISA doesn’t count toward your £20,000 annual ISA allowance. When you transfer the full amount (including interest) to your Stocks and Shares ISA, it retains its tax-free status without affecting your allowance for the current tax year. This means you can transfer the entire balance without any issues." @HMRC I eagerly await your response. Many thanks Andy

Hi thanks for the reply - I am confused as I didn't think interest counted towards the allowance? If for instance you transferred from a cash ISA for which you had put 20k into in that tax year to another cash ISA in the same tax year because lets say the interest rate was better, are you saying that this transfer could not include any of the interest on the 20k? Andy

Hello HMRC - I just wanted to check that when transferring ISAs in the same tax year, the interest does not count towards the allowance? In my specific example i maxed out my £20k isa allowance in a cash ISA this tax year and transferred this to a stocks and shares ISA in the same tax year, which is over £20k owing to interest. Really appreciate your help here Many thanks