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isa transfer dates?
kev1744
Posts: 163 Forumite
hi all,
sorry for asking what i now must have been asked before ( but i just cant find a simple answer)
i have a virgin money flexi isa that i funded in jan 2023.
i also have a 1 year fixed virgin money isa that i funded april 6th 2023.
i think im right in saying that this means i have 1 isa in the 2022/23 tax year and 1 in the 23/24 tax year?
my plan is on april 6th 2024 (new tax year) to look at transferring 1 or both of these to another isa and also adding £20k new cash.
then ending up with an isa funded to the value of £60k plus any interest accrued...is this allowed?
sorry for asking what i now must have been asked before ( but i just cant find a simple answer)
i have a virgin money flexi isa that i funded in jan 2023.
i also have a 1 year fixed virgin money isa that i funded april 6th 2023.
i think im right in saying that this means i have 1 isa in the 2022/23 tax year and 1 in the 23/24 tax year?
my plan is on april 6th 2024 (new tax year) to look at transferring 1 or both of these to another isa and also adding £20k new cash.
then ending up with an isa funded to the value of £60k plus any interest accrued...is this allowed?
0
Comments
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i think im right in saying that this means i have 1 isa in the 2022/23 tax year and 1 in the 23/24 tax year?
Yes, they are in separate tax years.
my plan is on april 6th 2024 (new tax year) to look at transferring 1 or both of these to another isa and also adding £20k new cash.
then ending up with an isa funded to the value of £60k plus any interest accrued...is this allowed?Yes, the transfer of ISAs from previous tax years does not affect the amount you can subscribe in the current tax year.
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.0
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