Can I transfer my ISA? If so, how?

Can I transfer my ISA? If so, how?

Your ISA (NISA) can be made up of a mixture of cash and shares or investments under the NISA rules introduced in July 2014.

The ISA/NISA allowance increased to £15,240 on 1 April 2015.

The most recent budget provided increased flexibility for savers, so that you can now withdraw cash from your ISA and, so long as you replace the cash within the same financial year, this will not reduce or affect your annual ISA allowance subscription.

If you are considering transferring your I S A, it is important to do it the right way. Encashment and then transferring the monies will cause you to lose the tax benefits of your I S A. So it is important to transfer between ISA providers.

You need to consider the charges of the existing provider and your new selected I S A provider.

However, it is probably more important to ask yourself why you are considering transferring your I S A – is it simply because you are disappointed with the investment returns from your existing provider, or are you doing so because you are changing your overall investment strategy?

We have a guide to ISA investing which you can download for free by clicking the link below.

If your investable assets exceed £250,000 then we would be prepared to meet with you.

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A pension is a long-term investment that typically cannot be accessed until age 55 (57 from April 2028). The level of pension benefits offered could change depending on the value of your investments (and any income they may generate).

The interest rates in effect at the time you begin receiving benefits may also have an impact on your pension income. The tax consequences of pension withdrawals will depend on your unique situation. In later Finance Acts, tax rates, tax bases, and tax relief may change.

The opinions expressed by Ray Best are meant to inform and educate. Before making any investment decisions always take advice that is pertinent to your investment personality and financial situation.

You are aware that past performance will not necessarily be repeated in the future, but you should be aware that persistent poor performance invariably will.

The value of an investment and the income from it could go down as well as up.

The return at the end of the investment period is not guaranteed and you may get back less than you originally invested.

UnaVida Wealth Management Ltd. is directly authorised and regulated by the Financial Conduct Authority (440577).

The guidance in this website is primarily aimed at a UK audience and is subject to regulation by the Financial Conduct Authority (FCA).

The Financial Conduct Authority does not regulate tax planning, estate planning, or wills and any form of legal documentation.