New Cash ISA for 2011/12 Tax Year Question

BearWhite

Hi,

I've filled my ISA for this tax year and have noticed lots of good ISA offers recently. Can anybody tell me if I'm able to open another ISA this tax year and not deposit anything into it until after the start of the new tax year. Would this ISA then just count as my ISA for the 2011/12 tax year? I was thinking of this as it always seems to take the banks several weeks to sort things out when I apply at the start of a new tax year.

Cheers

KiKi

Every ISA I've seen has to be opened with a balance of either new money or a transfer.

But yes, in theory you can do this if the ISA can be opened with a zero balance - you'd have to check each ISA's T&Cs. You can open as many as you like, as long as you only subscribe to one in each FY.

Remember, even if you did leave one empty, the interest rate might drop before the new FY, so don't bank on it being the same for next year's subscription.

KiKi