mini cash ISA

magali

I opened a min cash ISA in the Halifax 2 months ago, i put the maximum :£3000. In april i will be able to add another £3000 for the year 2006.
My boyfriend and I saved another £3000 , shoud we add it to my ISA in april or open another ISA in his name?
:rudolf: thanks

Joe_Bloggs

Open an ISA in the name of the person without an ISA. These ISA allowances are per individual. You would then have £6000 allowance each by April.
J_B.

grumbler

From financial point of view the best option is to open a new ISA on his name now. You will get tax-free interest this financial year and can add another 2x£3000 after April.

david78

Joe_Bloggs wrote:

You would then have £6000 allowance each by April.
J_B.

This is not right. Your boyfriend can put open a mini cash ISA before 6th April and put in up to £3000.

After 5th April, you can both add up to £3000 each to your cash ISAs.

If you have £3000 between you, then you need to put his savings into his cash ISA (before or after 5th April) and your savings into your cash ISA (after April 5th). Just don't split up deciding who owns what?