Transfer an ISA

Benefits

• Keep your tax benefits
  When you transfer an ISA balance from previous tax years using our application form, you'll keep the tax benefits, and the amount you move won't count towards this year's ISA allowance.
• You can move funds directly across
  As long as we can match up the funds (or units) you already have, there’s no need to cash in and reinvest your ISA when you move it over. It may just take slightly longer that way.
• You’ll find it’s flexible
  With the ISA we offer, you can withdraw your money and pay it back in the same tax year, without affecting your annual allowance. There’s no charge to withdraw your money and you can pause monthly payments and re-start when you want.
• Manage it all in the app
  Having an ISA with us swings open the door to the MyAviva app. It lets you track your ISA’s progress, and browse through the funds or other ways to invest you can choose from.
• Change your investments when you want
  Deciding to shake up how you invest your ISA is fuss-free. You don’t need to give notice to change your funds, there are no extra fees and you can do it through the MyAviva app. In exceptional circumstances there could be delays in switching funds.

Things to consider

1. Your annual allowance
   The amount you can pay into ISAs from all providers this tax year is £20,000, and that’s the combined total across any types of ISA you have. Contributions from this tax year that you have transferred into a new ISA will count towards your annual allowance.
2. ISA rules
   There are four types of ISA (cash ISAs, stocks and shares ISAs, innovative ISAs and lifetime ISAs). If you've already made contributions during this tax year to the ISA you're transferring, you'll have to transfer those current year contributions in full.
3. Follow the correct path
   If you transfer one ISA to another, your money will stay free from Income Tax and Capital Gains Tax. If you close your current ISA yourself and then move it, those tax benefits will disappear. Make sure you transfer it through an ISA provider, like us.
4. Transferring a cash ISA
   You can transfer a cash ISA into our Stocks & Shares ISA. Just bear in mind that a stocks and shares ISA is riskier than a cash ISA, as the value of your investment could go down as well as up and you could get back less than invested
5. Other charges
   Your existing provider may charge a penalty when you leave them – so make sure you check this before you transfer. It's always worth weighing up the management and fund charges you're paying for the ISA you want to move, and the one you're planning to transfer it into. There's also no guarantee you'll be better off by transferring.
6. How long a transfer takes
   If your ISA transfer is in cash, it can take from three to six weeks until it's reinvested. As your money won't be invested while it's being transferred it won't go up or down in value. Unit transfers can take around two weeks longer than cash transfers. You'll also stay invested during the move, so the value will be affected by market changes.