Two cash ISA's in same year.

trickydicky14

I used around 17k of my 24/25 ISA allowance early in the year with Virgin (cash ISA) I have an old ISA with Ford Money and was thinking of putting the 3k allowance I have left into it.

Ford Money state they don’t allow you to pay in to your ISA if you have already opened an ISA, Will they know I have opened one? I’m aware the new rules let me do this.

FishInGlass

They won't know. Only HMRC will know which providers you have subscribed to this calendar year.

However I would be tempted not to give my business to companies who insist on creating their own restrictive interpretation of the new rules and open an account elsewhere.

trickydicky14

FishInGlass said:

They won't know. Only HMRC will know which providers you have subscribed to this calendar year.

However I would be tempted not to give my business to companies who insist on creating their own restrictive interpretation of the new rules and open an account elsewhere.

Thanks for that, the only reason I was going to do this was because the ISA is already set up. Didn't want to open a new one just for 3k.

masonic

Just ignore it. It is an unfair term that is voided by the Consumer Rights Act.

jimjames

trickydicky14 said:

FishInGlass said:

They won't know. Only HMRC will know which providers you have subscribed to this calendar year.

However I would be tempted not to give my business to companies who insist on creating their own restrictive interpretation of the new rules and open an account elsewhere.

Thanks for that, the only reason I was going to do this was because the ISA is already set up. Didn't want to open a new one just for 3k.

Have you checked the rates? Even for £3k it's worth getting the best rate you can and an old account is unlikely to be a top payer

trickydicky14

jimjames said:

trickydicky14 said:

FishInGlass said:

They won't know. Only HMRC will know which providers you have subscribed to this calendar year.

However I would be tempted not to give my business to companies who insist on creating their own restrictive interpretation of the new rules and open an account elsewhere.

Thanks for that, the only reason I was going to do this was because the ISA is already set up. Didn't want to open a new one just for 3k.

Have you checked the rates? Even for £3k it's worth getting the best rate you can and an old account is unlikely to be a top payer

Yes I have checked the rates and wish to continue as planned.