Opening more than one ISA in a tax year

masonic

art123_2 said:

Hopefully someone can clarify this for me please.  I have 2 fixed rate cash ISAs with different providers that mature at the start of November 24.  I want to put the proceeds from both into one new 2 year fixed rate ISA, but I also want to put £20000 into a 1 year fixed rate Isa with a different provider.  Is this allowable or would I be breaking the ISA rules if I did this.

Yes, the maturing ISAs (assuming they were opened in a previous tax year) won't have any bearing on the situation and wouldn't have even in prior tax years. Also putting £20k of new money into a separate fixed cash ISA is fine.

slinger2

masonic said:

art123_2 said:

Hopefully someone can clarify this for me please.  I have 2 fixed rate cash ISAs with different providers that mature at the start of November 24.  I want to put the proceeds from both into one new 2 year fixed rate ISA, but I also want to put £20000 into a 1 year fixed rate Isa with a different provider.  Is this allowable or would I be breaking the ISA rules if I did this.

Yes, the maturing ISAs (assuming they were opened in a previous tax year) won't have any bearing on the situation and wouldn't have even in prior tax years. Also putting £20k of new money into a separate fixed cash ISA is fine.

Making sure you "transfer" the maturing ISAs to the new one.

Beddie

art123_2 said:

Hopefully someone can clarify this for me please.  I have 2 fixed rate cash ISAs with different providers that mature at the start of November 24.  I want to put the proceeds from both into one new 2 year fixed rate ISA, but I also want to put £20000 into a 1 year fixed rate Isa with a different provider.  Is this allowable or would I be breaking the ISA rules if I did this.

Yes, this is all within the rules. Transfers don't affect the annual allowance, so you are free to put £20k into any ISA you want.