What happens when I move my ISAs?

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I’m looking at opening an ISA (stock & shares), and I started wondering what happens with the perks (tax free) when I move ISA accounts around.



For simplicity let's assume that ISA allowance is constant at £20K and I always use it all.



If in tax year 2018/19, I have an ISA (stock & shares) with provider Alpha,
and the next tax year 2019/20 I have opened another ISA (stock & shares) with provider Bravo for whatever reason (lower platform costs or something), what will happened if in the middle of tax year 2019/20 for some reason I’m not happy with my Alpha provider (ISA 2018/19)? Can I move this ISA (2018/19) to some other provider or am I stuck with them? Will I lose my tax free perk for that £20K as I have already reached the £20K allowance with provider Bravo?



How does this work? Do I need to keep an ISA with the same provider year after year?






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    I’m looking at opening an ISA (stock & shares), and I started wondering what happens with the perks (tax free) when I move ISA accounts around.



    For simplicity let's assume that ISA allowance is constant at £20K and I always use it all.



    If in tax year 2018/19, I have an ISA (stock & shares) with provider Alpha,
    and the next tax year 2019/20 I have opened another ISA (stock & shares) with provider Bravo for whatever reason (lower platform costs or something), what will happened if in the middle of tax year 2019/20 for some reason I’m not happy with my Alpha provider (ISA 2018/19)? Can I move this ISA (2018/19) to some other provider or am I stuck with them? Will I lose my tax free perk for that £20K as I have already reached the £20K allowance with provider Bravo?



    How does this work? Do I need to keep an ISA with the same provider year after year?






    united-kingdom isa







    share|improve this question

























      up vote
      1
      down vote

      favorite









      up vote
      1
      down vote

      favorite











      I’m looking at opening an ISA (stock & shares), and I started wondering what happens with the perks (tax free) when I move ISA accounts around.



      For simplicity let's assume that ISA allowance is constant at £20K and I always use it all.



      If in tax year 2018/19, I have an ISA (stock & shares) with provider Alpha,
      and the next tax year 2019/20 I have opened another ISA (stock & shares) with provider Bravo for whatever reason (lower platform costs or something), what will happened if in the middle of tax year 2019/20 for some reason I’m not happy with my Alpha provider (ISA 2018/19)? Can I move this ISA (2018/19) to some other provider or am I stuck with them? Will I lose my tax free perk for that £20K as I have already reached the £20K allowance with provider Bravo?



      How does this work? Do I need to keep an ISA with the same provider year after year?






      united-kingdom isa







      share|improve this question















      I’m looking at opening an ISA (stock & shares), and I started wondering what happens with the perks (tax free) when I move ISA accounts around.



      For simplicity let's assume that ISA allowance is constant at £20K and I always use it all.



      If in tax year 2018/19, I have an ISA (stock & shares) with provider Alpha,
      and the next tax year 2019/20 I have opened another ISA (stock & shares) with provider Bravo for whatever reason (lower platform costs or something), what will happened if in the middle of tax year 2019/20 for some reason I’m not happy with my Alpha provider (ISA 2018/19)? Can I move this ISA (2018/19) to some other provider or am I stuck with them? Will I lose my tax free perk for that £20K as I have already reached the £20K allowance with provider Bravo?



      How does this work? Do I need to keep an ISA with the same provider year after year?






      united-kingdom isa




      united-kingdom isa






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      edited 4 hours ago









      yoozer8

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          It's done through a transfer ISA form - handled by the providers (the one you are moving to)



          You have to move it all in one go from one provider to another, and this will not affect your yearly ISA limit.



          https://www.gov.uk/individual-savings-accounts/transferring-your-isa



          It has to be done this way, if you took it out manually and tried to put it back in you would use all your 20K allowance (or if your ISA was larger than 20K, would not be able to move it all)






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            1 Answer
            1






            active

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            active

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            active

            oldest

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            up vote
            4
            down vote













            It's done through a transfer ISA form - handled by the providers (the one you are moving to)



            You have to move it all in one go from one provider to another, and this will not affect your yearly ISA limit.



            https://www.gov.uk/individual-savings-accounts/transferring-your-isa



            It has to be done this way, if you took it out manually and tried to put it back in you would use all your 20K allowance (or if your ISA was larger than 20K, would not be able to move it all)






            share|improve this answer


























              up vote
              4
              down vote













              It's done through a transfer ISA form - handled by the providers (the one you are moving to)



              You have to move it all in one go from one provider to another, and this will not affect your yearly ISA limit.



              https://www.gov.uk/individual-savings-accounts/transferring-your-isa



              It has to be done this way, if you took it out manually and tried to put it back in you would use all your 20K allowance (or if your ISA was larger than 20K, would not be able to move it all)






              share|improve this answer
























                up vote
                4
                down vote










                up vote
                4
                down vote









                It's done through a transfer ISA form - handled by the providers (the one you are moving to)



                You have to move it all in one go from one provider to another, and this will not affect your yearly ISA limit.



                https://www.gov.uk/individual-savings-accounts/transferring-your-isa



                It has to be done this way, if you took it out manually and tried to put it back in you would use all your 20K allowance (or if your ISA was larger than 20K, would not be able to move it all)






                share|improve this answer














                It's done through a transfer ISA form - handled by the providers (the one you are moving to)



                You have to move it all in one go from one provider to another, and this will not affect your yearly ISA limit.



                https://www.gov.uk/individual-savings-accounts/transferring-your-isa



                It has to be done this way, if you took it out manually and tried to put it back in you would use all your 20K allowance (or if your ISA was larger than 20K, would not be able to move it all)







                share|improve this answer














                share|improve this answer



                share|improve this answer








                edited 4 hours ago

























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                Tim

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