Isa Account Query

Adele81

I applied for a new ISA last week and have asked for funds to be transferred from an old ISA (transfers are permitted). I'm conscious that the new tax year starts on the 6th so not sure if it'll be set up in time. I'd also like to pay in some money from a savings account preferably before the 6th April. If I do this now and then the transfer doesn't happen until after the 6th April, does this mean I can no longer open another ISA after the 6th April? Really want to open the Help to Buy ISA in the autumn so don't want to jeopardise my chances of this. Would love some advice on this, thanks so much!!

badger09

Adele81 wrote: »

I applied for a new ISA last week and have asked for funds to be transferred from an old ISA (transfers are permitted). I'm conscious that the new tax year starts on the 6th so not sure if it'll be set up in time. I'd also like to pay in some money from a savings account preferably before the 6th April. If I do this now and then the transfer doesn't happen until after the 6th April, does this mean I can no longer open another ISA after the 6th April? Really want to open the Help to Buy ISA in the autumn so don't want to jeopardise my chances of this. Would love some advice on this, thanks so much!!

Have you paid any money into any cash ISA since 6th April 2014?

If you have, then that ISA is where you should pay money from your savings account before 5 April

Whenever the transfer happens, it will have no effect on whether you can open a new ISA after 6th April.

Are you absolutely sure a cash ISA is the best home for your savings at the moment?