Transferring Cash ISA in same tax year

SickGroove

Hello, think I'm being paranoid but just want to make sure I've not messed up...I googled the below 

How many cash ISA can you open in one year?

one cash ISA

You can have multiple ISAs, but you can open only one cash ISA in each tax year. So, if you have opened a cash ISA in this current tax year, you cannot open another one until after April 6 next year.

So, I took out a new Cash ISA on 14th April 2022 with Paragon & transferred 60K in from previous years Cash ISAs then put in my 20K allowance for this tax year. Fixed for 2 years at 1.64%.

I've just applied with Shawbrook to transfer ALL my money from Paragon into their 1 year fixed rate Cash ISA @ 3.70% (appreciate there is a 180 interest penalty for doing this but still works out better anyway)

So my question is, is the Shawbrook Cash ISA classed as taking out a new Cash ISA in the same year, even though I'm just transferring ALL my money over from Paragon ie not putting any new money into the Shawbrook Cash ISA?

Basically, have I messed up or is what I've done acceptable?

Thanks in advance 

Albermarle

You can only contribute new money to one cash ISA per tax year, which is what you will have done, so no problem.