The sum of your ISAs must not exceed the annual ISA allowance of £20,000 for 2024/25. This applies to all subscriptions you have across Cash, Innovative Finance and Stock & Shares ISAs.

When making an investment using your Downing IFISA, you are required to fund your IFISA account before placing an order. There are several ways in which you can do this:

Via Bank Transfer

If this is a new subscription for the current tax year, you can deposit money via bank transfer. This should not exceed your annual subscription allowance.

Transfer from Standard to IFISA Portfolio

You can also transfer money from your standard account to your IFISA portfolio. A transfer from your standard account is treated as a new subscription and will count towards your £20,000 ISA subscription allowance for 2024/25.

Transfer in from an existing ISA

• There is no limit on the amount of money you can transfer from previous years’ ISAs.
• You can find the online transfer form in your IFISA portfolio by selecting ‘Add Funds’ and choosing the ‘Existing ISA’ option.
• When transferring funds from an existing Stocks and Shares ISA to your IFISA with us, you need to have cash in your Stocks and Shares ISA to move over. Consider whether it is the right time to liquidate your portfolio and if doing so might lead to any fees or penalties with your current ISA provider.
• If you need to liquidate any of your holdings in your Stocks and Shares ISA to make cash available to transfer to us, you can select this option on the online transfer form.

Please note that some ISA transfers can take up to a month to complete, however this is typically completed within 2-3 weeks.