Yes, subscriptions can be transferred freely between cash, stocks and shares and innovative finance ISAs. You can transfer some or all of the money saved in previous tax years with another provider to an Investment ISA with Sheffield Mutual, up to £150,000 per calendar year, without affecting your annual ISA investment allowance.
You can also transfer all or part of the money saved in the current tax year with another provider to an Investment ISA. Where money saved in the current tax year is transferred, it will be treated as if it has been invested directly into the receiving ISA in that tax year.
You will then be able to save up to the full remaining balance of the allowance for that tax year, or you may, within the overall limit, subscribe to a cash ISA later in the current tax year. Transfers from previous tax years will be held in a separate ISA transfer policy from any current tax year subscriptions.
If you have already transferred an ISA policy to Sheffield Mutual, you can choose whether to ‘top-up’ your existing policy or open a new one. See ‘Can I add to my investment?’ section for further information.