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ISA Rules
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george2127
Posts: 3 Newbie
Hi,
I know that you are only allowed to subscribe/pay in to one ISA per tax year and that transfers from previous tax years are not included in the £3000 allowance.
I have looked at the new Barclays ISA and noticed that it will not accept transfers from previous tax years. However, I was wondering if you could open the Barclays account and pay the £3000 allowance into that one but also open an account that accepts transfers and ONLY pay the transfer amount into it so that this doesn't affect the allowance?
I hope that this makes sense and any advice is gratefully received.
I know that you are only allowed to subscribe/pay in to one ISA per tax year and that transfers from previous tax years are not included in the £3000 allowance.
I have looked at the new Barclays ISA and noticed that it will not accept transfers from previous tax years. However, I was wondering if you could open the Barclays account and pay the £3000 allowance into that one but also open an account that accepts transfers and ONLY pay the transfer amount into it so that this doesn't affect the allowance?
I hope that this makes sense and any advice is gratefully received.
0
Comments
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Interesting question george I'll be interested to read the answer too....#6 of the SKI-ers Club :j
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke0 -
I'm sure you could.
One year I opened a Halifax ISA and also transferred the balance of a Smile ISA into a Nationwide ISA which was opened just to accept the transfer.0 -
Yes, it's not a problem. In fact, I'm doing that for the coming tax year.0
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Guys and gals,
Thanks for your replies. I thought this was probably the case but as I messed up my ISA slightly last year, I wanted to double check.
I will probably do this then if I can find a decent ISA for the transfer money. Wish me luck!!0
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