Transferring share ISA's

freyadog
by freyadog 07 January 2013  |  Comments 4 comments  |  Love Love  0 loves

I have two share isa's with one provider, the first is performing poorly and projections look like it is likely to continue poorly over the next few years. The second is performing ok. My question is can I transfer the poor performance isa to another provider and leave the second isa with the original provider. This would mean two share isa's with different providers.

Report

Enjoyed this? Show it some love

Twitter
General

Comments (4)

  • MikeGG1
    Love rating 909
    MikeGG1 posted

    The only rule about the number of ISA providers relates to the current year contributions.

    Are the 2 ISAs in the same account or in different accounts? If they are in different accounts, there would be no problem, but if they are in the same account then the transfer form might not be able to distinguish between them.

    The new provider has to do the transfer in order for it to retain ISA status.

    You could also reinvest the poorly performing ISA in the better ISA or in another fund with the same provider.

    Mike

    Posted on 08 January 2013 | Love Love  1 love Report
  • freyadog
    Love rating 0
    freyadog posted

    Many thanks for the reply and information, I'll certainly look at a better performing fund with the same provider.

    Posted on 08 January 2013 | Love Love  0 loves Report
  • freyadog
    Love rating 0
    freyadog posted

    Many thanks for the reply and information, I'll certainly look at a better performing fund with the same provider.

    Posted on 08 January 2013 | Love Love  0 loves Report
  • johnson6
    Love rating 2
    johnson6 posted

    Until recently I had 3 ISAs - Aberdeen, Share Centre and Hargreaves Lansdowne - all opened in different years, so all perfectly legal.

    Posted on 08 January 2013 | Love Love  0 loves Report

Post an answer

Sign in or register to post an answer.

Something you're dying to ask... or answer?

Register with lovemoney.com to start asking and answering questions on Q&A.

Get started now

Sign in for a better Q&A

Registered already? Great! You can just sign in to ask and answer questions.

Sign in
W3C  Thank you for using The Four Horsemen of the Apocalypse