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New year ISA - Stick in old account or new account
Comments
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Just looked at Cheshire Direct Cash ISA (Issue 2) paperwork, which includes following encouraging bits.
Important Information
You will not be able to subscribe to another cash ISA in the next tax year if you continue to subscribe to this cash ISA in the next tax year.
Opening in 12/13, I read next as being 13/14.
Direct Cash ISA Terms and Conditions
Additional deposits can be made up to the maximum ISA allowance per tax year.
Sounds open ended to me, and if 13/14 money is not permitted it isn't very obvious.0 -
Hi,
I have a similar dilemma. Currently I have a 12/13 Nationwide online issue 5 ISA with a rate of 2.75% which will decrease to approx. 1% at the end of December 2013. By the looks of it I will be able to put money into it this tax year, so I was just wondering if I am allowed to put money into this ISA, wait until I get my interest payment (around October) then transfer the whole ISA into one from a different provider? Also if I do transfer into another provider ISA, will I still be able to put money into it, or as my current ISA amount is well above the 5,720 allowance would that count as using up this years allowance?
Many thanks for any advice.0
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