S&S ISA Transfer Question

So I have a Freetrade S&S ISA - opened the previous tax year.

I’ve paid into it this year.

I’m considering transferring to a new S&S ISA.

I’m not worried about loosing the tax wrapper as there’s not much in it.

Could I withdrawal the funds, close the account and just pay into a new one to save waiting 4 weeks?


The official advice from Freetrade is below:

That to me states that unless you wanted to wait for the new tax year, you would need to transfer.

Withdrawing from your ISA doesn’t reset or restart your allowance so you’d have to subtract it from 20k or wait until April.

Ah, perfect. Thanks. That’s exactly what I was looking for, but couldn’t find it no matter how I phrased the search term.

So having subscribed to one in the present tax year, you can’t just close and subscribe to another; it has to be a transfer.

Think I’ll wait til the end of the tax year and then whip the funds out if the market is still in no man’s land :+1: