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This years cash Isa allowance

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Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    JimLad wrote: »
    But i could open one, put 3600 in, open another and transfer the 3600 over?

    Yes. As long as you don't put any new money into the new one.
  • Baldur
    Baldur Posts: 6,565 Forumite
    JimLad wrote: »
    But i could open one, put 3600 in, open another and transfer the 3600 over?
    'Opening' a Cash ISA involves subscribing (paying new money into it), as far as the HMRC guidelines are concerned.

    Cash ISA transfers do not constitute 'opening' a new account - the same Cash ISA is simply being moved from one provider to a different one. Don't forget that the new provider has to institute the transfer, not the account holder.
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