Isa

tsmiggy

I have a isa from previous years,but have not subcribed this year.Can i open a isa for this year,and withdraw the full amount to cover this year from the existing isa,and place it into my new isa.

If that makes sense. cheers

TrustyOven

tsmiggy wrote: »

I have a isa from previous years,but have not subcribed this year.Can i open a isa for this year,and withdraw the full amount to cover this year from the existing isa,and place it into my new isa.

If that makes sense. cheers

Not sure why you'd want to do that.

You could fill in a transfer form, pop it in the post, and essentially transfer the old ISA contents to the new ISA (after you opened it I presume) without using up this year's allowance.

Or why not just top up your existing ISA?
If you've not subscribed this year, you can put the full 15k ish in before Apr 2017.

tsmiggy

My existing isa is very poor interest wise.I want to open a Coventry BS isa,but they will not allow transfers from previous years.I cannot seem to find a provider with some sort of interest rate that will allow transfer from previous years.

jimjames

If you're not using your full allowance then the current limits are quite generous and can allow you to do as you describe to get round issue of transfers. However it does beg the question if you have a smaller amount then there are potentially much better rates available outside cash ISAs.