Yet another ISA query

wooders

Can someone assist

I ve been looking at the Santander 3.5% isa for 2010/11. This isa does not allow transfers from old isa's in

Am I allowed to -

Open Santander and put upto £5100 new money in

and

Open a different 2010/11 isa and transfer old isa money into that

eg - £5k into Santander, £100 into a different one plus transfer old money

Basically can I have two isa's for the same year running so long as I only put £5100 in??? to maximise the %%%%%%%

regards

Lokolo_2

Yes, you can transfer your existing ISA to another provider as well as investing £5100 of the 2010/2011 ISA allowance into another ISA.

BUT you cannot CONTRIBUTE new money to more than ONE ISA provider in any tax year HTH :j

ANGLICANPAT

My mum is in that position and as far as I can see (although Im well open to correction) - you dont need to use the £100 from the £5100 allowance ( and in fact you cant because it would count as new money because its money thats never been in an Isa before)- to open an 10/11 isa to transfer your old isas into. You put the whole £5100 into Santander for this year (thats your new money catered for ), and then just transfer your previous years isa/isas into a different banks 10/11 isa - the transferred amount is all thats needed to open and run it.