Transferring old isa & having current S&S isa

cattie

I have a 2yr old cash isa maturing at the end of the month & want to transfer it to a fixed term Kent Reliance one, who have a slightly better rate. I do also have a S&S isa that I've contributed to this year & just a bit confused whether it's OK for me to open a Kent Reliance cash one for the transfer.? I do hold an old fixed term cash isa with Kent Reliance (I know that further deposits into there are not allowed).

grumiofoundation

You can open as many ISAs as you want - it is contributing new money that is limited to one per type (and to 20k across all types). 

 The transfer of previous years money will not count towards this years ISA allowance. 

On a side note linked to the above - having a S and S ISA does not stop you  contributing new money to a cash ISA this year (assuming you have ISA allowance left). 

ColdIron

Sure, no problem. The main restriction involves contributions of new money in the current financial year (e.g. your S&S ISA). You can do what you want with old ISAs and contributions from previous years

cattie

Thank you both, I can get the application form filled out now.