Yes, you can still transfer an ISA to InvestEngine even if you’ve already paid into it this tax year.
In fact, transferring your ISA is often the best way to move to a new provider without affecting your allowance - as long as the transfer is done correctly.
ISA transfers may have implications for your investments. Please consider all factors before deciding to transfer.
ISA transfers don’t reset or reduce your allowance
As long as the transfer is arranged between providers (without withdrawing the money yourself), it won’t count as a new subscription or use up your ISA allowance.
This means:
- You can transfer an ISA funded in the current tax year, even if you’ve already contributed to it
- Your full allowance for the year remains available, minus what you've already paid in
Read more about ISA transfers here
Don’t withdraw and re-subscribe
Withdrawing money from your ISA and trying to “pay it back in” at another provider could:
- Use up your current tax year allowance
- Cause you to accidentally exceed the annual ISA limit
- Result in a loss of tax-free status for the withdrawn funds
This is why it’s best to make sure you’re using your new provider’s transfer process to keep your ISA protected.
Once a tax year ends, you can no longer add money to that year’s ISA allowance. Each new tax year gives you a fresh ISA allowance, and any contributions you make count towards the current year. If you transfer an ISA instead of withdrawing it, you keep your ISA allowances intact.
You’re responsible for staying within your ISA limit
For the 2025/26 tax year, the ISA allowance is £20,000.
You can now pay into more than one Stocks & Shares ISA in the same year — but it’s up to you to make sure your total contributions stay within the limit, if you go over, you’ll need to contact HMRC to correct it.
Learn more about ISA allowances here