Two existing ISA'. Can I pay into both?

kidmugsy

Some institutions offer sets of cash ISAs that are arranged so that they are viewed by the taxman as a single ISA. So someone might subscribe £10k this year to the instant access ISA and £5240 to the fixed term ISA. I think Nationwide do it; Newcastle BS used to - perhaps still do. It might be worth checking whether Barclays do.

badger09

colsten wrote: »

You can pay money into old ISAs ..............

HMRC rules don't prohibit it, but the T&C of the particular ISA might:cool:

jimjames

DaftMule wrote: »

Getting slightly off topic but...you have to go back to about the time of the dinosaurs to get an instant cash ISA that would pay 5%+....

As to the 5% loophole, well, lets just say I would probably get black-balled from the Moneysavingexpert society. The small gains I'd make on my limited savings would easily be cancelled out by the effort of administration :-)

For small amounts of savings it's even more worthwhile than large amounts as it's minimal admin and a massive increase in return.

colsten

badger09 wrote: »

HMRC rules don't prohibit it, but the T&C of the particular ISA might:cool:

I have seen many instant access ISA T&Cs and have yet to come across one that doesn't allow it. You might have to 'renew' it but that's a small admin matter,

ViolaLass

Having paid money in an ISA does not affect whether you can transfer into or out of it. That depends on your T&Cs.