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Two New Cash ISA's
HouseHuntr
Posts: 522 Forumite
Simple question ?
Can I open two new CASH ISA's, one to transfer previous tax years savings and one to fund new savings ?
Can I open two new CASH ISA's, one to transfer previous tax years savings and one to fund new savings ?
0
Comments
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ISA transfers do not constitute 'opening' a new ISA - simply complete your chosen new provider's transfer form and let them arrange the transfer.
The ISA which you open & subscribe your 2009/10 allowance to will be your one Cash ISA for the current tax year.0 -
So yes you can !
You can 'open' [apply for] as many cash ISAs as you like in the same tax year but you can only pay new money (subscribe) to one of them.
Transfering an ISA using a transfer form is not new money so you aren't subscribing. You can do this as often as you like with however many ISAs you like in the tax year.
If you transfer an ISA yourself (ie take the money out and pay it into another), this counts as new money (subscribing) so don't do it. Use a transfer form.0
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