Opening new ISA just for transferring an old ISA

hatnezmaturestudent

Hi all, I've used up my 2024/25 ISA allowance.  I have an old ISA that matures soon.  Can I open another ISA, not fund it (because I've my allowance) and just transfer the old ISA to it?  Thanks

masonic

It is fine to open an ISA for a transfer regardless of whether you have any ISA allowance available.

Albermarle

A read through the forum is probably a good idea to keep up to speed with ISA questions.

Ocelot

That's what most of my ISAs are used for.

Beddie

hatnezmaturestudent said:

Hi all, I've used up my 2024/25 ISA allowance.  I have an old ISA that matures soon.  Can I open another ISA, not fund it (because I've my allowance) and just transfer the old ISA to it?  Thanks

Yes, that's fine.