Yes. Also if gains outside ISAs are within allowances, there will be no tax to pay.

If the bond is within an ISA wrapper then there will be no tax to pay - no income tax nor capital gains.

Thanks for advice. Afraid I don't understand the second paragraph.

The Fixed Term Bond I;ve taken out will be taxed by Capital Gains and will be within the annual allowance.Please could you explain. As the original ISA was paying me practically nothing, anything seemed a better option than leaving it there.

Goldie14

You would need to check the conditions of any ISA account that you apply for.

In theory the answer is yes, but some transfer accounts don't accept additional funds, and you may have to open a second new account for this.

When deciding on the Fixed term bond with the ISA transfer, did you consider the reduction in the headline interest rate with the tax deduction not taken from an ISA (reducing by 20%)?

Sparky.

Yes. You should arrange the £5k transfer by contacting the new ISA provider to ensure that they will process it as a transfer and not part of the current year's allowance.

I am over 50. I have not used my ISA allowance this year yet. Can I invest £5,100 in a new ISA and transfer another £5k from my existing ISA into the same new ISA. I have already transferred £10k from my existing ISA into a fixed term Bond during this year.