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Opening more than one ISA in a tax year
Comments
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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.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.
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Making sure you "transfer" the maturing ISAs to the new one.masonic said:
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.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.0 -
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.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.0
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