Newbie to ISA's! Advice needed please

lilsweetie

Hi all

Quite new to this, only got my first ISA in May last year.

I currently have a Cash ISA for this year, after April Im aware that I get a new year allowance and can open a new ISA for a new tax free allowance, my question is, can I keep transferring my cash isa for this year (the 12 months is up in may) into another ISA that allows transfers in just for my 2011/2012 money to keep boosting the interest on it aswell as having my new ISA for 2012/2013? I have read Martins ISA Threads but am still a little confused by this and I also went into the bank yesterday to try and get a little help and the woman was less than helpful to say the least.

Grateful for any advice you could give me.

Thank you!

agent69

You don't say whether your existing ISA is a 12 month fixed rate deal, or variable.

You can have as many ISA's as you like and can move them around (subject to the T & C's) as often as you like. The golden rule is that in any given tax year you can only invest new money into one ISA.

atush

Yes, after the fr periods ends you can transfer your old ISA while still getting a new ISA.

xylophone

Don't forget you must ask your new providers to organize the transfer- ask them for a transfer form.