Can I transfer a Cash ISA to an IFISA?

Yes, you are able to transfer funds from an existing ISA - including a Cash ISA - into an IFISA. However, there are some rules in place and important processes to follow when doing this.

Firstly, you should be aware that if you are transferring money invested in an ISA during the current tax year, you must transfer all of it. On the other hand, if you are transferring money invested in an ISA during a previous year, you can choose whether you transfer all or only part of it.


For example, if you had accumulated £20,000 in a Cash ISA in the 2022/23 tax year, you could choose to transfer just £10,000 of this into an IFISA in the 2023/24 tax year. 

However, if you subscribed your maximum annual ISA allowance of £20,000 in a Cash ISA in the current 2023/24 tax year and decided you'd like to transfer to an IFISA, you would be required to transfer all of it.

It’s important to note that you cannot transfer stocks and shares into an IFISA, only cash. So, if you are wanting to transfer your Stocks and Shares ISA over to an IFISA, you must sell the stocks and shares that it holds first. 

Read more:download the IFISA guide

While all providers are required to allow you to transfer your ISA from them to another provider of your choice, not all providers will accept transfers in.

You should check that your preferred provider is open to transfers before committing to making the move, and you should make sure you’re following the transfer guidelines set out by your provider to ensure your funds do not lose their tax-free status. 



CARLTON Bonds are an IFISA provider specialising in fixed term property bonds.

Against a backdrop of low interest rates and a volatile stock market, the IFISA can provide an attractive investment opportunity for experienced investors. 

With the ability to hold peer-to-peer loans and debt-based securities, IFISA investments have the potential to generate higher rates of return than more traditional investment routes for investors with a greater appetite for risk.

To find out more, download our free IFISA guide.

The Innovative Finance ISA Guide