this years mini cash isa allowance

xxMandyxx

Hi

I know this type of question has probably been asked loads of times before but wanted to double check as im new to all this savings stuff lol!

I have £600 in an RBS ISA, my last payment into it was on 28th March 2007, does this now mean that I have a new allowance of £3000 for this tax year but can still keep my £600 in it from last years allowance on top of this, if i didnt withdraw anything?

Also if i transfered my £600 to another ISA would that now be counted as part of this years allowance or would I be able to pay that in and pay another £3000 this year?

The more i think about it the more i confuse myself so i thought id ask.

Thanks :beer:

aj1302

Hi Mandy

Each tax year your allowance starts again. As your last payment was 28 March 2007 it was before the new tax year started on 6 April. Therefore, anything you invested the previous tax year does not count. If you transferred the money it would be classed as old tax years and not current, and you can still use the full allowance for this tax year.

xxMandyxx

thanks for that aj1302

mandy