Ablrate is unable to transfer existing holdings from your Standard Account to your IFISA account. HMRC rules essentially mean that any ‘transfer’ of holdings must be done via an open market. This means that you will need to fund your IFISA, place loans for sale from your Standard Account and buy them with your IFISA account.
Please make sure that you understand how the Secondary Market operates before you embark on this exercise as your loan parts are at risk of being bought by others who are monitoring the Secondary Market. Ablrate cannot be responsible for any loan parts that you lose due to the sale and purchase of loans parts from your Standard Account to your IFISA account.
PLEASE REMEMBER, REGARDLESS OF THE TAX BENEFITS, CAPITAL IS AT RISK
Whether investments are held within an IFISA or in a general account, they are not covered by the FSCS; the government-backed deposit insurance scheme that protects bank deposits including Cash ISAs.