transferring isa funds?? help

clendrive

i currently have aound £7000 in a barclays tax haven isa but the rate is now a poor 0.8% i think. i am wundering whether to withdraw the money and open a new isa with barclays getting there 3.1% before the 5th april. Or should i transfer the isa over to nationwides isa which pays 2.75%?

i no that transferring isa takes up to 30 days so i was woundering would i be able to do all the transfers after 5th april and stil be able to get my new allowance of £5100 allowance in the new tax year?

i have the funds to be able to fill this

any advice much appreciated

Gorgeous_George

DO NOT WITHDRAW IT.

You need to transfer it. Why choose Barclays who are clearly shafting you already. Personally, I recommend Northern Rock becuase of their clear, timely communication.

Whatever you do, do not withdraw it as you will only be able to re-invest it using this or next year's allowance (i.e., £5,100 from 6 April). Transferring it keeps it in the allowance for the year that it was initially deposited.

GG

clendrive

so if i transfer to an isa after 5th april will i stil be able to deposit my allowance of £5100 for tax year 2010/2011

THRIFTY_GIRL

clendrive wrote: »

so if i transfer to an isa after 5th april will i stil be able to deposit my allowance of £5100 for tax year 2010/2011

Yes, you can transfer the current ISA and also subscribe an additional £5,100 for tax year 2010/11.

rb10

See http://forums.moneysavingexpert.com/showthread.html?t=2302457 for your options.