2013/14 allowance after transfer

hufc2002

I plan to transfer £2500 from a 2012/13 ISA into a LBS ISA paying 2.55%.

My first question is can I add additional money into the LBS ISA?

My second question is will this be classed as 2013/14 money therefore I can only add an additional £5760?

gadgetmind

hufc2002 wrote: »

My first question is can I add additional money into the LBS ISA?

Assuming this ISA is still open to new subscriptions, then yes, this is how ISAs work.

My second question is will this be classed as 2013/14 money therefore I can only add an additional £5760?

Yes, any payments into that ISA between April 6th 2013 and April 5th 2014 will be 2013/14 subscriptions.

Note that you won't be able to put money into any other cash ISA during this period unless you fully transfer all of this year's subscriptions to a totally new ISA.