Transferring ISA's then opening another one

SteveSilva

Hi guys, hope you can help. I have transferred two years worth of previous ISA's to Alliance and Leicester (which opened originally this financial year and then transferred in the balance). I have two questions,

1) Can I open a new ISA for this financial year to use my tax free allowance. Either open a seperate ISA or plough this years savings into the A&L ISA

2) My balance transfers from my previous ISA's are a balance of £3100 each, can I top it up to £3600 without it afffecting this years allowance.

Hope thats clear

RayWolfe

1) Yes
2) No

Your allowance of £3, 600 is for this year only. Previous years allowances were for £3,000 but in that tax year only.