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ISA rules advice please.
dggar
Posts: 670 Forumite
Sorry if this has been asked before.
I have £5640 to put into what ever appears to be the best ISA this coming April( after 5th.).
I also have a previous ISA(4 yr with Birmingham Midshires) valued at £3600 which matures on 30th April.
I wish to transfer this in to the best ISA that allows transfers.
Am I allowed to top up the maturing ISA to £5640 once it has been transferred into the new provider.
I have £5640 to put into what ever appears to be the best ISA this coming April( after 5th.).
I also have a previous ISA(4 yr with Birmingham Midshires) valued at £3600 which matures on 30th April.
I wish to transfer this in to the best ISA that allows transfers.
Am I allowed to top up the maturing ISA to £5640 once it has been transferred into the new provider.
0
Comments
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Afraid not. The £5640 is your annual allowance for 12-13 in terms of cash. Once you've used it - that is it.
Nor can you split the £5640 between the two ISAs..... you can only put funds directly into the one.
You can - of course - transfer your existing ISA - and then add the complete £5640 to it? There is no ceiling on ISAs - only the annual allowance.If you want to test the depth of the water .........don't use both feet !0 -
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