ISAs maturing

Pepsidog3

Hi 
My ISAs is maturing in 3 days if i keep it with virgin money the rates are low
suppose same all over 
My question is if i keep with  virgin one can i set up another later in the year to the full allowance i havent used 

Alexland

Yes there is no problem with you staying with Virgin (provided you haven't made any contributions since 6th April) and putting your ISA contributions for this tax year with another provider.

Pepsidog3

Thanks for that so i can put my maturing one into new one fixed rate ISA with virgin then  put the remaining allowance 14 000 in a new one with another provider   The reason im asking i didnt think you could have more than one ISA

eskbanker

Pepsidog3 said:

Thanks for that so i can put my maturing one into new one fixed rate ISA with virgin then  put the remaining allowance 14 000 in a new one with another provider

You'd only have a remaining allowance of £14K if you'd paid £6K into a 2020/21 ISA within the past two weeks; have you?

Pepsidog3 said:

The reason im asking i didnt think you could have more than one ISA

Not an uncommon misconception but the rule is that you can only pay new money into one ISA of each type in any given tax year - you can have as many as you like....

Pepsidog3

No i have virgin one with 6k in that is maturing on 24th  I was going to put it into another fixed rate yearly one with them or take the money and put in bank then open a new one with another provider  adding more to it to full allowance  

colsten

You have a new £20k ISA allowance each financial year. Your deposits from previous years will not be counted against your allowance from the current year.

Alexland

colsten said:

You have a new £20k ISA allowance each financial year.

Well each tax year starting 6th April.