ISA Question

pickles_pink

Howdy MSEers

I was just wondering, I have opened a new ISA (with full intentions of using it) However Ohave another ISA with £100 in really poor rate though.

Anywho

Do I need to do a transfer so the new guys know how much I am still able to put in this year, or do they already know from the tax man?

Lokolo

When did you deposit it? This tax year?

pickles_pink

yes i have £3,100 left to put in this year,

muymalestado

Believe you can open only one ISA in any year - legally. The terms of the one you opened may not allow subsequent deposits depending what type of account it is. I say save up for next year and get it right.

Lokolo

Does the new ISA have a balance of £0 or have you deposited money in it?

If it has £0 then don't worry its all good.

You can transfer the old one into the new one and then you can top up £3100 into the new one.

(you m ust fill in an ISA transfer form though, not BACS transfer or anything - what is the provider of the new ISA?)

pickles_pink

sorry, nipped into the bath.

It's Zero balance and with A&L my old one is with HSBC.

Thought so thanks!!

Lokolo

http://www.alliance-leicester.co.uk/customer-service/pdfs/ISA-Transfer-Form.pdf?

print and fill that form in. hand it into branch or whatever and you are good to go.