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Tessa only ISA (Toicer) Transfere Query. (TOIC)     

Stan - 08 Dec 2006 19:18

Before asking elseware and having had a look at Gordon Brown's pre-Budget statement regarding transfering cash ISA's Into shares, I would like to ask If I can transfere my Tessa only ISA Into my Self Select ISA? He does not make that clear.

Stan - 10 Dec 2006 11:12 - 2 of 5

ttt.

Exotoxin - 10 Dec 2006 15:14 - 3 of 5

Yes I think all toisas can be considered as cash isas now (even if they have been invested in non-cash such as "structured products"), so they should be moveable to equity isas.

Stan - 10 Dec 2006 19:02 - 4 of 5

Thank you Ex, That does make sense It's just that I prefer these party politicians to be a bit more specific. Mind you that might be me expecting a little to much -:)

Stan - 21 Dec 2006 16:17 - 5 of 5

"You ask whether the proposal to allow the transfer of funds held in an investors cash ISA to their stocks and shares ISA applies to a TESSA-only ISA (TOISA). I can confirm that the transfer of funds held in a TOISA will be allowed, as a TOISA is simply a cash ISA."

Confirmation from the Treasury.
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