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Cash ISA subscription
theisengland
Posts: 4 Newbie
I opened a cash ISA for the last tax year with Barclays. This is still open and gaining interest but at a lower rate. I haven't transfered any money to this ISA for this tax year. Does that mean I can open a new tax ISA with ICESAVE? The terms an conditions state I can't open a new ISA if I have already subscribed to one for this tax year. By not closing my Barclays one does that mean I've subscribed to it for this tax year?
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Comments
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You can open a new one. Any previous year's ISAs don't count towards current contributions and it's quite valid to have one for each year. You can also transfer your Barclays ISA to a new provider who accept transfers in (ICESave do), if the rate is more favourable.Debbie0
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