ISAs

SavingStudent1

Hi there,

I had a few questions regarding ISAs:

1. Suppose I open a Cash ISA (1) next week and put in £10,000 in it. If I have a Fixed Rate ISA that matures in June 2024 worth £21000, can I transfer that into my this Cash ISA (provided it allows transfers-in after opening it)? If so, can I still put in £10,000 into my Cash ISA (1) throughout the year as I've got £10k allowance left?

Alternatively, if I transfer the Fixed Rate ISA into a new ISA (2) with another provider, I assume it works the same way and I can still put £10000 into either ISAs (1) or (2) throughout the year?

Hopefully that makes sense.

eskbanker

Yes, you can transfer prior year money without affecting, or being affected by, the allowance for the current year, provided the receiving provider's ISA transfer process is used.