New here and advice required

alfonso

Hello people.
I'm new here so go easy with me;)

I hope I have placed this enquiry in the correct thread.?
I put 3k into a Barclays tax haven isa in March this year.
Can I open another 3k taxhaven isa with them for 08/09 ? and then do the same every year ?
Regards and thanks in advance
Alfie

Lokolo

Yes but you can put £3600 in now, the limit was raised from this year.

whu

welcome -if they allow you to add to it you can add this years allowance to last years - this years is £3600 - you can then add to it each year or put next years allowance into another ISA if it is higher paying (and transfer this years and last years into the new ISA if you wish)

qfk123

I currently have maxed out tax haven isa for this year 2008/09 - so next year what happens to my tax isa does it carry on paying monthly interest or does it expire and i need to move the funds over to the 09/10 cash isa ( with whoever)

Is nexts years limit being raised from £3600 - would be great incentive to make people save.

jem16

qfk123 wrote: »

I currently have maxed out tax haven isa for this year 2008/09 - so next year what happens to my tax isa does it carry on paying monthly interest or does it expire and i need to move the funds over to the 09/10 cash isa ( with whoever)

It will continue to earn tax-free interest -you don't need to move it anywhere. You can also add next year's allowance to it if the rate is still competitive.

Is nexts years limit being raised from £3600 - would be great incentive to make people save.

It's already at £3600 for this tax year.

qfk123

Many thanks jem, i meant limit of 3600 being raised higher , maybe 4000 allowance next year.

Aegis

It's not too likely, the limit was only just raised to £3600 for cash ISAs from the previous 10 years or so at £3000.