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ISA thresholds

Fluffy_E11
Posts: 7 Forumite


Quick question - can I transfer my existing ISA into another with better interest and put in £20k into a new ISA in the same tax year?
my current ISA rate is poor but I also want to put new money in. Thanks all!
my current ISA rate is poor but I also want to put new money in. Thanks all!
0
Comments
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Yes, you can move "old money" from previous tax years anywhere you want and put your £20,000 annual allowance into the same or a different product.
Think of it like this, only £20,000 of "new money" per tax year.
Rules change slightly next tax year as to how many ISAs you can have in a year but the limit remains the same unless Mr Hunt makes a surprise announcement at lunchtime.
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Ayr_Rage said:Rules change slightly next tax year as to how many ISAs you can have in a year0
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