I chose a poor ISA rate but a better rate has become available

fishbrid

In July this year I opened an easy-access ISA with Newcastle BS, transferring funds from a previous year's ISA with Kent Reliance and adding £7000 of new funds.

Now a fixed-rate ISA I have with Virgin is maturing and the money can go to a another fixed-rate ISA. At the same time I can transfer money in. Is it OK to take everything I recently put into Newcastle and put it into Virgin? I do not intend to pay any more new money in.

I am confused about the rules on not paying into more than one ISA in one year.

Albermarle

If you start a new Virgin fixed rate isa, you can transfer the money from the easy access ISA with Newcastle BS, as long as you transfer all of it ( or at least the £7K of new funds.)

Then you have only added money to one new ISA this tax year. The fact you originally added it to one and then transferred it is OK.