ISA questions

finder

Hi there,

Could anyone help me out with this please? Suppose the following:

1.- Applied for an ISA last year and used up the £3000 allowance (i.e. deposited £3000 in the account by April 5th)

2.- Applied for an ISA last year but did NOT deposit any money in the account by April 5th (i.e. account balance as for April 5th = £ 0 )

For either of the two cases, do I need to reapply for the ISA again or putting some money into the account is enough to renew my application automatically?

Thanks a lot

penrhyn

In either example, you can just carry on/start paying in.
Unless you want to change your ISA provider.

Money_Watch

Yep, that's correct.

For those with a monthly ISA that continues into each new tax year, it's worth remembering that as soon as your first payment goes out, you are then tied to having your ISA from that provider for the year, so if you're looking for a new ISA provider, remember to cancel your monthly direct debit in time.