Isa Transfer in same tax year

Help
#1

Hey guys, living in the UK and hope I can find some advice from the community regarding an isa transfer.

I opened an AJ bell ISA mid tax year as I started my investment journey, however later in the year discovered Trading212 which I prefer and have currently been investing with the invest account.

I want to create a T212 Isa, is it possible to open one this tax year since I already opened one with AJ bell? If so could I open one, transfer all the cash from AJ bell and transfer my cash from T212 invest account all into this new isa?

Or do I have to wait till April to open the T212 Isa and transfer it then?

Thanks,

#2

as you have already opened a S&S ISA with AJ Bell in this tax year I believe you need to wait until April before you can do so with T212.

once you do, you can transfer from your AJ Bell into the T212 ISA by filling out a request form and this won’t affect your contribution allowance for the next tax year.

you can transfer money from the T212 Invest account into the ISA however this will use part of your contribution limit as they are separate accounts.

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#3

Hey there guys, :wave:

Just wanted to shed light on few bits from @Dao’s kind and helpful reply. You are allowed to open an ISA with us, but you’ll need to request a transfer for your current tax year contributions with AJ Bell. This is stated in HMRC regulations, according to which an investor is allowed to hold no more than one active S&S ISA in a current tax year.

Check your inbox, @giorgiomuscat . I’ll send you a DM with more information. :slight_smile: :mailbox_with_mail:

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