Barclay's ISA Transfer
Transferring your ISA accounts is a simple way to keep control of your savings and make sure they’re working for you. Many people are transferring ISAs in order to consolidate their savings in to one manageable amount. Others are moving their ISAs in order to take advantage of high interest incentives and switching rewards.
Transferring ISAs has never been simpler, however, the tax rules around cash ISAs mean that you must transfer your money from one cash ISA account to another in the right way to keep your tax-free savings intact.
You can’t simply withdraw your ISA savings as cash and pay it into your new cash ISA, otherwise you’ll lose the associated tax benefits. If you do the transfer correctly, any balances from your previous tax year ISAs won’t count towards this year’s annual allowance.
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