Some things to consider when transferring your ISA
- You can transfer both a cash ISA and a stocks and shares ISA from previous years in full or in part.
- We don't charge a transfer fee but your current provider may.
- If you wish to transfer the current tax year's cash ISA or stocks and shares ISA to us you'll need to transfer the full amount you've invested in your ISA.
- Minimum transfer £500.
- You can't transfer from a stocks and shares ISA to a cash ISA.
- Transferring to us will not affect this year's allowance and you won't lose out on your tax benefits.
There are a few simple steps to follow:
Legal & General Investments
PO Box 6080
We're unable to transfer ISAs online as HM Revenue & Customs (HMRC) require us to get a signature from you. They do this to make sure you’ve authorised the ISA transfer - so it's a step to protect you. Once you’ve posted your completed transfer form to us you can let us do the rest.
- Your transfer will take a minimum of 14 days.
- Whilst your ISA transfer is being processed you can’t transfer it back, but you can withdraw your money and we won’t charge you for doing this.
- Some of our funds may invest overseas. Changes in exchange rates between currencies may cause the value of your investment and the level of any income to rise or fall.
- Whilst your ISA transfer is taking place you won't benefit from any rise in the markets and you could lose some income or growth.
- If you withdraw the money during an ISA transfer, you may not get back the full amount that you transferred and you will lose this amount from your ISA allowance.
- The tax efficiency of ISAs is based on current rules. The current tax situation may not be maintained. The benefit of the tax treatment depends on individual circumstances.
- The value of your investment and any income from it may fall as well as rise and is not guaranteed.
- You may get back less than you invest.
- Although there is no fixed term you should consider ISA and unit trust investments to be medium to long term, ideally five years or more.