in ISAs & tax-free savings
2 replies 132 views
I have a previous tax year Cash ISA paying a derisory rate, but found my very same provider offering a leading cash ISA rate in the Best Buy tables and accepting ISA transfers. I only intend to move the previous tax years ISA rather than take out a new ISA this tax year with this provider, as I have already opened and funded a cash ISA this tax year elsewhere. On applying to transfer, the T&Cs ask me to confirm that I understand I am opening a 2022/23 cash ISA. As such, I have not gone ahead as I was concerned that the whole of the previous tax years ISA would lose its tax status if I were deemed to have opened two this tax year, even if I don’t actually fund this ISA with new cash, but rather transfer previous years cash. Can anybody put my mind at rest that this won’t be seen as opening two Cash ISAs in the same year? Many thanks.
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