Transfer S&S ISA current tax year

🤝 Help
1

Hello,

I’m current using Vanguard S&S ISA for the 2nd tax year. In the current tax year I have invested £5k in it.

I only just learnt about trading 212 and I want to use trading 212 ISA this tax year. I read that it is possible to transfer current tax year fully between ISA platforms.

Does this mean I can still subscribe to Trading 212 ISA today, then request for transfer of current tax year through trading 212 request form?

And who will do the calculation relating to the £5k invested in vanguard so far and how much it is worth now and therefore the final sum of ISA transfer?

Many thanks

Harry

2

As you have just continued with the same provider you haven’t used up your 1 new S&S ISA for the year so you can open the ISA account with T212.

you have deposited money during this tax year so that deposit will have to be moved in full to T212 in the transfer, however you don’t need to transfer all of your previous years so it should be fine to over estimate. Vanguard and T212 will work out the transfer and for convenience you may find it makes sense to move your whole ISA over so you have 1 easily managed portfolio (effectively multiple with the new pies).

If you know exactly how many shares you bought with this years deposit, just take the count of those shares and check their current worth, this plus any free funds left as cash should be what you need to transfer.

2 Likes
3

I did not know you could do that.
The link is also quite useful.

4

It would appear stocks and shares ISA transfers have to be made in cash: https://helpcentre.trading212.com/hc/en-us/articles/360007081097-Can-I-transfer-my-ISA-from-another-bank-or-broker-

So the OP would have to sell his/her shares and re-buy them once transferred to Trading 212. Not ideal.

5

that is how it goes. I was only talking in terms of the deposit which needs to be moved and this is naturally a cash balance. I could have been lazy and just linked back to previous replies along these lines of transferring ISAs xD

6

Sorry Dao, yes I was just highlighting this for the OP and adding to your answer as I’d found the link in my own research for a similar problem. Appreciate your help.