Transferring an ISA

Investors can transfer their ISAs from one manager to another whenever they want. They may transfer

  • their current year ISA subscriptions (and any related income) and/or
  • all or part of their previous years ISA subscriptions (and any related income).

If the ISA contains current year subscriptions only the entire account must be transferred.

Subscriptions to a stocks and shares ISA can only be transferred to another stocks and shares ISA. However, subscriptions to a cash ISA can be transferred to another cash ISA, or to a stocks and shares ISA.

Where current year subscriptions are being transferred from a cash ISA to a stocks and shares ISA, the current year subscriptions are treated for all ISA purposes as if they had been made to the stocks and shares ISA. This means that the investor is regarded as never having subscribed to the cash ISA. Within the overall subscription limit, therefore the investor may subscribe to a cash ISA later in the current year (with the same or a different manager) without breaching the one-ISA-of-each-type-a-tax-year rule.

Appendix B of the Guidance Notes for ISA Managers (PDF 1.18MB) contains guidance on best practice for ISA transfers. However, while we recommend that managers adopt these procedures, they are recommendations only and are not prescriptive.

When an ISA is transferred the old ISA manager must give the new ISA manager a notice in writing containing information and a declaration (a 'transfer history form'). We have produced a range of model forms. One is intended for cash ISAs. A second is intended for stocks and shares ISAs.

These documents are available in PDF format. To view a PDF document you must have Adobe Acrobat Reader installed on your computer.