Bradford Bingley ISA Question...

GreyPilgrim

...with an obvious answer...probably...

Got £3,000 in a barclays ISA which I'm transferring to B&B now (paperwork is in the pipeline).

One of the conditions for the B&B ISA is "a minimum opening investment of £1,000".

So thats fine for the transfer I guess, but when I come to start next years allowance, do I have to start THAT one with another lump of £1,000, or can I just pay in, say, £250 a month?

Guess what I'm asking is, is each years £3,000 a continuation of the same ISA account, or does each new tax year mean we "start" a new ISA?

Everest

Once you have already paid in the requisite £1,000 for the first year, you can then add whatever you want (up to £3,000 pa) in subsequent years. Each year's tax wrapper is added and merged into the one account so as long as the account has over £1,000 everything it's just fine. This is from my reading the T&Cs and having had a B&B Cash ISA for the last couple of years.

Hope this helps.