Cash isa

davidshads

I know I can only open 1 cash isa in a financial year but can I open more than 1 if I am just transferring in from an existing isa?
I have already opened 1 in May this year and transferred money in from an expired isa, in October I have another isa expiring and want to transfer this as well into a new isa.

masonic

You can open as many cash ISAs as you like. You can pay new money into one of them per tax year.

[Deleted User]

Hi,

yes but you must do it correctly, to maintain Isa status, you don't do Isa > Bank > Isa, you must do Isa > Isa, usually the receiving Isa does the leg work.

davidshads

masonic said:

You can open as many cash ISAs as you like. You can pay new money into one of them per tax year.

Thanks, so I can transfer as many isas as I like ?

Albermarle

davidshads said:

I know I can only open 1 cash isa in a financial year but can I open more than 1 if I am just transferring in from an existing isa?
I have already opened 1 in May this year and transferred money in from an expired isa, in October I have another isa expiring and want to transfer this as well into a new isa.

If you go to the sub forum of this one ' ISA and tax free savings' you will see every question about ISA's has been asked and answered numerous times, including yours.

masonic

davidshads said:

masonic said:

You can open as many cash ISAs as you like. You can pay new money into one of them per tax year.

Thanks, so I can transfer as many isas as I like ?

Yes, you can freely transfer ISAs between providers.

davidshads

Thank you all 🙂

Eric66

Can somebody clarify what I can and cannot do around ISA rules. I have already deposited say approx £4000 in a variable cash ISA, I also have an existing Stocks & Shares ISA with another provider which i have put in £500 this tax year. Can I transfer the Stocks and Shares ISA to a new fixed rate cash ISA and still use the remaining £15,500 allowance to deposit in the variable or is this counted as 2 cash ISA's in a tax year

eskbanker

Eric66 said:

Can somebody clarify what I can and cannot do around ISA rules. I have already deposited say approx £4000 in a variable cash ISA, I also have an existing Stocks & Shares ISA with another provider which i have put in £500 this tax year. Can I transfer the Stocks and Shares ISA to a new fixed rate cash ISA and still use the remaining £15,500 allowance to deposit in the variable or is this counted as 2 cash ISA's in a tax year

All your current year contributions to each type of ISA must be in one place, so you could transfer your prior year money (excluding this year's £500) from S&S to another cash ISA, and the £500 from S&S to the variable cash ISA.

Alistair31

Is it possible to move previous years cash from within a S&S ISA (iweb) to a new cash ISA? 

Whilst leaving the sum I have invested in equities as they are, with iWeb. 

masonic

Alistair31 said:

Is it possible to move previous years cash from within a S&S ISA (iweb) to a new cash ISA? 

Whilst leaving the sum I have invested in equities as they are, with iWeb. 

If iWeb permits partial transfers out, then yes, but I don't know if they do. With a number of S&S ISA providers, it's all or nothing.