An ISA, or Individual Savings Account, is a UK government-backed savings or investment account that allows individuals to earn interest, dividends, or capital gains tax-free. It acts as a tax wrapper, shielding your returns from income tax, dividend tax, and capital gains tax.

For the 2025/26 tax year, the annual ISA allowance is £20,000, which can be split across different ISA types.

You can open a Stocks & Shares ISA or Cash ISA with Meteor.

You can transfer your Cash ISA, Stocks & Shares ISA, or Innovative Finance ISA entirely online through the Meteor Savings and Investments Platform, or by downloading an ISA transfer form and completing it offline.

How to initiate an ISA transfer:

1. Log in to the Meteor Platform.
2. Select your Cash ISA or Stocks & Shares ISA account tile.
3. Click the coral “Add funds / ISA transfer” button at the top of the page
4. Choose ISA transfer from the options displayed.
5. Choose between transferring online or downloading the form to complete offline.

Government regulations state that ISA transfers should be completed promptly. For a Cash ISA to a Cash ISA, the process typically takes up to 15 business days from receipt of your transfer request, while any other ISA transfer can take up to 30 calendar days. Meteor will liaise directly with your existing ISA manager to ensure all tax benefits are preserved during the transfer.

Individual Savings Accounts (ISAs): Transferring your ISA - GOV.UK

For the 2025/26 tax year, the maximum you can contribute across all ISAs is £20,000. This is your personal annual ISA allowance, and it applies whether you invest in a Cash ISA, a Stocks & Shares ISA, or other ISAs outside of Meteor.

Under the 2024/25 ISA rule changes, you’re now allowed to open multiple ISAs of the same type, including Cash ISAs and Stocks & Shares ISAs, within the same tax year. This means you can open a new ISA with Meteor even if you already hold one with another provider.