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INTRODUCTION |
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| Investors can hold unit trusts and similar investments in their tax- incentivised savings vehicles of ISAs and SIPPs. When investors want to move their ISA or SIPP investments from one provider to another it is currently a manual and complex process. The moving process is so complex and time-consuming that many ISA and SIPP providers will not transfer the investments but insisted that investors sell their investments and transfer cash to the new providers. However the industry recognised that this was disadvantageous to the investing public, and decided to do something about it. The first step was to encourage more ISA and SIPP providers to allow the transfer of investments from one provider to another, and the current phase is to automate the process. This part of the TISA website describes the work being undertaken to automate the transfer of ISA wrappers and the investments in ISAs and SIPPs. |
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