Interactive Investor

ISA FAQs

Does transferring an ISA count as opening a new one?

Does transferring an ISA count as opening a new one?

Transferring an ISA does not count as opening a new one. 

For example, if you contribute to a Stocks and Shares ISA and transfer it to a new provider in the same tax year, you can still pay into the new ISA. Without transferring, you are unable to contribute to two Stocks and Shares ISAs in the same tax year. 


Do ISA transfers count towards your annual allowance?

ISA transfers do not count towards your annual allowance

For example, you could transfer an ISA worth over £20,000 at the beginning of a tax year. You could then contribute up to £20,000 to your new ISA in that year (unless it is a Lifetime ISA as they have a maximum annual allowance of £4,000). 

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Simply log in to add a new Stocks and Shares ISA.