Minicash ISA transfer and Maxi ISA for 2007-2008

Nixter

I have used up my mini cash ISA allowance for this tax year 2006-2007.
Next year I want to invest everything, £7000, in a maxi ISA.

Question:
Can I transfer my existing ISA funds into a different mini cash ISA account without any initial deposit as I would be putting it all into a maxi ISA?

A&L Direct ISA Issue 2 drops their rate soon so I want to find a better home for my money.

Any ideas?

Many thanks,
Nixter

sly_dog_jonah

So long as you pick a mini-cash ISA provider who accepts transfers in, you can transfer in past years subscriptions without necessarily subscribing for the current tax year. I did this a month ago, transferring my 7-odd years subscriptions (including 07/08) from A&L to Newcastle BS (6.1% fixed til Oct2008- but the offer is now closed). If you do it before April 5th then you definitely be free to do a £7k maxi ISA after april 5th.

The past cash isa funds have to stay in cash isa accounts though (can't switch to a maxi type).

david78

Yes you can do this as sly_dog_jonah says.

You don't have to transfer your mini cash ISA before 5th April though, you can do it in the new tax year, and won't be breaking any rules.

All you need to do is stop paying into your mini cash ISA in 2007/08.