Is this right for new ISA.

roxy28

I have a cash isa fixed term ending in may, i want to keep it going and transfer it to another provider. I will not be adding any new money to it. I want to open a stocks and shares ISA ( cavendish or charles stanley) next week and buy a fund to put in it, is this ok.

Lokolo

Yes you can. And you can contribute new money towards the Cash ISA as well next year if you want.

As long as you do not contribute more than £15,240 between the 2 (new money into the Cash ISA and S&S ISA).

roxy28

Lokolo wrote: »

Yes you can. And you can contribute new money towards the Cash ISA as well next year if you want.

As long as you do not contribute more than £15,240 between the 2 (new money into the Cash ISA and S&S ISA).

Thanks for the reply.

I never thought that i could put into both in the same year, as long as i do not go over the limit £15,240 it can be done then - thanks for the info.

Lokolo

roxy28 wrote: »

Thanks for the reply.

I never thought that i could put into both in the same year, as long as i do not go over the limit £15,240 it can be done then - thanks for the info.

You can't if they are of the same type. i.e. you cannot put into 2 Cash ISAs at any one time.

You can split them between Cash and S&S though.

roxy28

Lokolo wrote: »

You can't if they are of the same type. i.e. you cannot put into 2 Cash ISAs at any one time.

You can split them between Cash and S&S though.

Ok got it now thanks again.