Can we combine our ISA's

djtonyb

DH and I both have ISA's with smallish amounts in. SH is now a SAHD and isn't earning.

Can we combine both ISA's into one???

CLAPTON

No you cannot combine ISAs from two different persons as they are an individual entitlement.

If you have several ISAs of your own however you can transfer them into one assuming that the ISA providers allow that (some do and some don't).

tyllwyd

I can't see any real advantage in combining them together, even if you could - if you both have separate cash isas then you are both earning interest tax free so apart from a bit of extra paperwork, what is the difference?

LittleVoice

tyllwyd wrote: »

I can't see any real advantage in combining them together, even if you could - if you both have separate cash isas then you are both earning interest tax free so apart from a bit of extra paperwork, what is the difference?

Where interest increases in line with tiers of capital, there can be an advantage to combining different accounts together - as long as they are for the same person of course.

As the OP said the amounts were "smallish", then withdrawing funds from one (probably the one with the lowest amount) and putting it into the other's account as fresh funds for the current year (subject to the current year's maximum) might reap some extra reward.

Without knowing the actual amounts involved and the tax years of deposit, it is not possible to give a definite opinion for the individuals concerned.

Sillychuckie

Dh Sh Sahd...