Cash ISA allowance ?

Faymoore

Hi

I currently have a 2 year cash ISA with Nationwide (Opened March this year, 2015) amount 15000.00

My question is as it was opened prior to the start of this current financial year, can I open another for a similar amount BEFORE April 2016 or do I have to wait until after?

TIA
Dave (Faymoore)

colsten

As long as you stick with Nationwide, you can have as many as you like. Your total allowance is £15,240 for this tax year.

Although their ISA interest rates are terrible and there are other accounts that pay better interest than ISAs.

xylophone

If you have not contributed to an ISA in this tax year you can contribute up to £15,240 before 6 4 16.

bigfreddiel

colsten wrote: »

As long as you stick with Nationwide, you can have as many as you like. Your total allowance is £15,240 for this tax year.

Although their ISA interest rates are terrible and there are other accounts that pay better interest than ISAs.

Cobblers, you don't need to stick to the Nationwide. You can open an ISA with anyone you like.

fj

Superscrooge

Faymoore wrote: »

Hi

I currently have a 2 year cash ISA with Nationwide (Opened March this year, 2015) amount 15000.00

My question is as it was opened prior to the start of this current financial year, can I open another for a similar amount BEFORE April 2016 or do I have to wait until after?

TIA
Dave (Faymoore)

You get a new ISA allowance each tax year so as long as you haven't contributed to your current cash ISA this tax year then you can open another cash ISA

colsten

bigfreddiel wrote: »

Cobblers, you don't need to stick to the Nationwide. You can open an ISA with anyone you like.

You might be right, I originally read it like a subscription had been made this tax year. But it doesn't seem so on re-reading, so I agree, a subscriptions to a new ISA for 2015-16 can be made with any provider.

Faymoore

Thank you all very much.

NectarCollector

put it in 2 or 3 5% current accounts and earn more interest on it (even after tax is deducted)

jimjames

NectarCollector wrote: »

put it in 2 or 3 5% current accounts and earn more interest on it (even after tax is deducted)

Even Nationwide offer an account paying 5% so you can stick with same provider too if you want.