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Cash ISA Query
VKE
Posts: 132 Forumite
I'm hoping someone can help me clear up some household confusion:
1: We each have 1yr Fixed Cash ISA £20k (23/24 tax year) matures 31.03.25
2: If we each open 2yr Fixed Cash ISA Cash ISA £20k (24/25 tax year) after 6.4.24
As ISA's No2 are 2yr ISA's does that mean we won't be able to open ISA's in 25/26 tax year as we've got 2yr ISA's running?
1: We each have 1yr Fixed Cash ISA £20k (23/24 tax year) matures 31.03.25
2: If we each open 2yr Fixed Cash ISA Cash ISA £20k (24/25 tax year) after 6.4.24
As ISA's No2 are 2yr ISA's does that mean we won't be able to open ISA's in 25/26 tax year as we've got 2yr ISA's running?
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Comments
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The ISA rules are about money you put in to the ISAs. So in 25/26 you might be able to pay into your No2 ISA but you can also open and pay in to other ISAs.
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No,
The only limit is that you can not add more than £20K of new money to an ISA each tax year. When older ISA's mature is not relevant.0 -
Thanx for clearing up the confusion; much appreciatedAlbermarle said:No,
The only limit is that you can not add more than £20K of new money to an ISA each tax year. When older ISA's mature is not relevant.0
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