CASH ISA

Bobby4puddings

I opened an easy access cash ISA with the max £20k in the last 23/24 tax year.
Can I transfer this cash ISA to another provider now with better interest in this 24/25 tax year without losing any tax benefits for this 24/25 tax year and also be able to open a 2nd cash ISA with another £20K

Peter999_2

Yes you can.       So long as the £20k you put in for 23/24 was not in a fixed term ISA you are fine (if it is you would have to pay whatever penalty specified in the fixed term ISA, usually 12 months of interest)

steveksullivan

Bobby4puddings said:

I opened an easy access cash ISA with the max £20k in the last 23/24 tax year.
Can I transfer this cash ISA to another provider now with better interest in this 24/25 tax year without losing any tax benefits for this 24/25 tax year and also be able to open a 2nd cash ISA with another £20K

Yes - Just make sure you get the new ISA provider to do the transfer, don't take the money out and 'move' it yourself or you will lose the ISA status of the money.

Bobby4puddings

Thanks for your replies!