Is it possible to transfer Stocks & Shares ISA funds between different investments, now that we have been given more funds in which to invest?
Until the new provider I had all of my money invested in the one fund but, now, I want to diversify across my portfolio in equal shares.
Is this possible, or will I have to withdraw the funds and reinvest them, thus using up more of my ISA allowance?
You’d be effectively withdrawing to reinvest anyway, so that’s the route you have to go manually, and then choose which division of funds you want the withdrawn money to go in
Pretty sure the S&S ISA is flexible, so as long as you withdraw and re-invest in the same tax year you won’t eat up any of your ISA allowance.
I cannot see how withdrawing out of the ISA and then reinvesting into different funds would not impact my allowance.
I know that with Trading 212, for example, I can withdraw money from funds into cash, keeping the money within the ISA wrapper, and then use the available cash to invest into a different fund.
The Monzo route looks as if it would withdraw the cash from the chosen investment back into my current account, which is sub-optimal given that the money would then be double-counted against my ISA allowance if reinvested.
Similarly the ‘switch to different fund’ option only seems to allow me to move the entire investment in a particular fund into a different fund.
At present I have about 95% of my money invested in the one fund, with the remaining 5% split across eleven different funds. Surely there should be a simple and intuitive way to even this all out.
