Subscribing to this years Cash ISA

NigelWh

Question 1-I opened this tax year's Cash ISA with Aldermore Bank. Within a month they slashed the interest rate so I decided to close the account and invest the money in a non ISA account accepting the loss of tax free status. Can I still open another new Cash ISA account this tax year as long as I only transfer in previous years' ISA subscriptions? 
I have to sign a declaration saying I have not subscribed to an ISA this tax year.
Question 2- With my wife's new Cash ISA with Aldermore Bank the whole of this was properly transferred to an existing Cash ISA containing previous years subscriptions and topped up in that Account keeping within this year's limit. Can she still open another new Cash ISA account this tax year and transfer the whole of the money being previous and current years' subscriptions currently in that existing Account to that new account? Again she has to sign a declaration saying she hasn't subscribed to an ISA this tax year.

eskbanker

NigelWh said:

Question 1-I opened this tax year's Cash ISA with Aldermore Bank. Within a month they slashed the interest rate so I decided to close the account and invest the money in a non ISA account accepting the loss of tax free status. Can I still open another new Cash ISA account this tax year as long as I only transfer in previous years' ISA subscriptions? 
I have to sign a declaration saying I have not subscribed to an ISA this tax year.

Yes, you can open one if it's only used for transfer of prior year money.

NigelWh said:

Question 2- With my wife's new Cash ISA with Aldermore Bank the whole of this was properly transferred to an existing Cash ISA containing previous years subscriptions and topped up in that Account keeping within this year's limit. Can she still open another new Cash ISA account this tax year and transfer the whole of the money being previous and current years' subscriptions currently in that existing Account to that new account? Again she has to sign a declaration saying she hasn't subscribed to an ISA this tax year.

Yes, as long as all current year money is kept together in the same ISA, which will be the case if entire ISAs are being transferred each time.

The standard wording of the declaration is intended to prevent current year subscriptions being made to multiple ISAs of the same type but in the context of more complex scenarios like yours, it's difficult to have wording to accurately reflect all of these.