New Cash ISA with a S&S ISA

curtis122

Having a bit of an ISA check at the moment and after making a mistake on my S&S ISA we have now moved at looking at my wife's ISA.

My wife opened a S&S ISA this FY year and put money in it. It sates under the rules you can can open a S&S ISA and cash ISA in the same FY and the yearly allowance can be spread across both. She does not want to put anymore in her S&S ISA for now and the remainder of the allowance for the rest of the year she wants to put it in a cash ISA to take advantage of the full allowance before the TY ends.

She gone onto Paragon Bank which is one of the ones that has a slightly better rate but she gets this question on the application which makes it sound like you can't open a second ISA -  (as she had opened a S7S ISA earlier in the year she said yes to the first question which then prompted the answer at the bottom)

Have you already opened and funded an ISA this tax year?

No
Yes

Your current years ISA subscription has to sit with one provider, so if you’re transferring your current tax years subscription that has to be moved in full. But, you can transfer your previous years ISA subscription however you like.

She does not want to move any money and wants her S&S kept as it is and just open a cash ISA but its saying she can't. Should that be "Have you already opened and funded a Cash ISA in this tax year?"

eskbanker

Yes, it's slack wording and should specifically say 'cash ISA' - also, the question shouldn't refer to opening an ISA as that's irrelevant, the rule only constrains funding not opening....