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ISA Rules

Hi can anyone help with this question? I have a 1 year fixed rate isa maturing next month with the maximum £20,000, if I open a new one for this tax year for another £20,000 can I add my maturing one to it so would have £40,000 the new isa ??? Thanks Kevin 

Comments

  • Phoenix72
    Phoenix72 Posts: 425 Forumite
    100 Posts Name Dropper
    Yes, assuming the new one accepts transfers in.
  • Albermarle
    Albermarle Posts: 29,227 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    kevin6259 said:
    Hi can anyone help with this question? I have a 1 year fixed rate isa maturing next month with the maximum £20,000, if I open a new one for this tax year for another £20,000 can I add my maturing one to it so would have £40,000 the new isa ??? Thanks Kevin 
    Suggest you read through the forum. It is a good way to keep up to speed with ISA rules and issues,
  • nottsphil
    nottsphil Posts: 722 Forumite
    Part of the Furniture 500 Posts Name Dropper
    kevin6259 said:
    Hi can anyone help with this question? I have a 1 year fixed rate isa maturing next month with the maximum £20,000, if I open a new one for this tax year for another £20,000 can I add my maturing one to it so would have £40,000 the new isa ??? Thanks Kevin 
    Suggest you read through the forum. It is a good way to keep up to speed with ISA rules and issues,
    I would say that reading the ISA guide on the main site would be a quicker way of getting such basic information.
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