Secure your 2023-24 fixed term ISA rate *now*

spider42

caveman38 said:

On  applying for an  ISA now  to fund in 23/24. What happens  when on the application it asks whether you have already opened an ISA for 22/23. It will not be aware the funds will be delayed until the following tax year. How do you get over that obstacle?

The ISA declaration doesn't ask whether you have opened an ISA for 22/23. It asks whether you have subscribed to another cash ISA. There is a big difference. Subscribing is paying in new money, so you are answering correctly if you state that you haven't subscribed to another cash ISA. You are  allowed to open as many ISAs as you like, but you may only subscribe to one of each type each tax year.

The ISA declaration states: "I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA."

masonic

spider42 said:

caveman38 said:

On  applying for an  ISA now  to fund in 23/24. What happens  when on the application it asks whether you have already opened an ISA for 22/23. It will not be aware the funds will be delayed until the following tax year. How do you get over that obstacle?

The ISA declaration doesn't ask whether you have opened an ISA for 22/23. It asks whether you have subscribed to another cash ISA. There is a big difference. Subscribing is paying in new money, so you are answering correctly if you state that you haven't subscribed to another cash ISA. You are  allowed to open as many ISAs as you like, but you may only subscribe to one of each type each tax year.

The ISA declaration states: "I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA."

If I understand caveman38's situation, he has subscribed to a different cash ISA for 22/23, but will not subscribe to this one until 23/24. He can still declare that he has not and will not subscribe to another cash ISA in the same tax year as he subscribes to this cash ISA. If there is a different question about this subject in the application process, then that could cause a misunderstanding, but the ISA declaration itself is worded appropriately to avoid this.