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Paying into ISAs with different providers
Comments
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Just for my own piece of mind, this tax year I plan to do the following:
Transfer an old Cash ISA into a new provider (but not contribute any new cash to it)
Transfer another Cash ISA to a new provider (but contribute £10k as part of my 2018/19 allowance)
Open a S&S ISA and drip-feed my remaining 10k into it until March 2019.
My query is: even though I plan to transfer two separate cash ISA's over to two new providers, are both these considered 'open', or just the one I plan to drop 10k into it?0 -
The rule is you cannot contribute new money into more than one of each type of ISAs during the tax year. As you will not be contributing new money into the first Cash ISA you are fine to open the account and initiate the transfer.
Alex0 -
The rule is you cannot contribute new money into more than one of each type of ISAs during the tax year. As you will not be contributing new money into the first Cash ISA you are fine to open the account and initiate the transfer.
Alex
Many thanks Alex for clearing that up for me0
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