Transfer rules

Pmatty

Say I open a cash isa in November and it's fixed for 12 months,am I right in thinking,I can open and contribute to a new isa from the new tax year in April, (and max this out with 20k),then when the fixed rate is over(next November) I can transfer all or part of the cash in that isa to another isa (or, theoretically,more than one isa),as long as I am just transferring and not actually "contributing" to these transferred isa's 

Albermarle

Suggest you read through the forum to get full up to speed with ISA rules, as the same questions are asked frequently. 
For example.
New to Cash ISAs questions — MoneySavingExpert Forum
ISA Transfer question and other saving question.. — MoneySavingExpert Forum
ISA transfer confused — MoneySavingExpert Forum

refluxer

Pmatty said:

Say I open a cash isa in November and it's fixed for 12 months,am I right in thinking,I can open and contribute to a new isa from the new tax year in April, (and max this out with 20k),then when the fixed rate is over(next November) I can transfer all or part of the cash in that isa to another isa (or, theoretically,more than one isa),as long as I am just transferring and not actually "contributing" to these transferred isa's 

Presuming that you haven't contributed to a Cash ISA so far this tax year, then yes - you can do all of those things.

AnuMew

I'm not sure if I got your plan correctly (probably not!)... but are you thinking of opening a 1 year ISA now, then top up the account in April for 2023/24? I think it depends on the provider whether they still accept a transfer-in / a new incoming transaction then. Normally the window is only a few weeks.

refluxer

AnuMew said:

I'm not sure if I got your plan correctly (probably not!)... but are you thinking of opening a 1 year ISA now, then top up the account in April for 2023/24? I think it depends on the provider whether they still accept a transfer-in / a new incoming transaction then. Normally the window is only a few weeks.

No, that's not what they're wanting to do. They're wanting to take out a fixed rate ISA now and open a different ISA after 6th April 2023 to pay the next tax year's allowance into.