Transfer ISA's and protection

That depends on how much money is involved. If what you are going to cash in plus what you are intending to add this year does not exceed the annual ISA allowance, there's no problem.

I have a different understanding of the question to you RR. I think the question revolves around either transferring the current holdings of the ISA intact (i.e. in specie) from the transferring manager to another manager, or alternatively the transferring manager encashes the holdings and transfers the dosh to the transferee manager who will then invest it again. So long as the dosh is passed from one ISA manager to another directly without passing through the beneficial owner's hands then this latter method is fine and the OP will be OK. I think the OPs new broker is referring to the latter method I describe.

I am not aware of a way in which existing holdings with one iSA manager can be transferred to another with an actual encashment of the holding, but no doubt someone will advise.

BTW, you stood me up!

John Boyle

you have answered my question in full -- many many thanks

regards

John M

In message , " snipped-for-privacy@googlemail.com" writes

Thats no problem except I see I made a typo, that last sentence should have read :

"I am not aware of a way in which existing holdings with one iSA manager can be transferred to another withOUT an actual encashment of the holding, but no doubt someone will advise."

The only risk would be a sharp upturn in the market while the money is in cash. Unlikely perhaps, and of course balanced by the possibility of a drop.

Sorry. I didn't see your message, saying you were off "in about an hour", until well over an hour after you posted it, so I didn't see any point in replying.

Fair enough, but your forget my three hour journey!

It didn't occur to me you might be online while travelling. Still, if you were that keen you could have rung. There's only one Raygun in the book.

What were you doing here, anyway, was Captain Beefheart in town?

Ha! I should have looked in the directory!

He may have been in the past, but not last week, I looked everywhere. It was just a boring business appointment.

It's possible to transfer shares "in specie", and I suspect that the same can be done for unit funds in certain cases. If the ISA manager is the fund manager, then they tend to insist on encashment before transfer of the cash.