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Increasing NISA total to £15,000?

Heather65
Heather65 Posts: 3 Newbie
in Savings & investments
I have a question regarding increasing my ISA total to the £15,000 now in place. I took out a new ISA in April and added new money to the £5940 limit. However I also transferred in "old" money from another older ISA. If I were now to increase my ISA to the £15,000 limit, does this take into account the current total or just the £5940 that I put in as "new" money?
Thanks!

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Heather65 wrote: »
    just the £5940 that I put in as "new" money?
    ^^^^^^ this
  • Heather65
    Heather65 Posts: 3 Newbie
    Sorry but I didn't understand your reply. What does "^^^^^^ this" mean?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You asked a question and gave two possible answers. I was pointing (hence the ^^^^) to the correct answer.


    But maybe I should have taken more time and said...The £15K allowance is for new money this tax year, so excludes money deposited in previous years ISAs.
  • jimjames
    jimjames Posts: 19,263 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Have you already used up the 5% current accounts or is your ISA paying more than that?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Heather65
    Heather65 Posts: 3 Newbie
    Hi,
    Thanks for your messages- sorry that I didn't understand your initial reply! Got it now!!


    I have looked into other current accounts thanks to the MSE website!


    Thanks!
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