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1 year cash ISA that matures in June 2025
BurtonBloke
Posts: 2 Newbie
I have a 1 year cash ISA that matures in June 2025
My question and I apologies if it sounds naive, can I top my current 1 year cash ISA with part or all my new £20,000 tax year allowance and still have tax free savings in my 1 year cash ISA?
Or what is the best approach for an ISA that mature part way into a new tax year, wait until it matures or open a new ISA at the start of the new tax year?
Thanks BB
My question and I apologies if it sounds naive, can I top my current 1 year cash ISA with part or all my new £20,000 tax year allowance and still have tax free savings in my 1 year cash ISA?
Or what is the best approach for an ISA that mature part way into a new tax year, wait until it matures or open a new ISA at the start of the new tax year?
Thanks BB
0
Comments
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Assuming your 1 year cash ISA is a fixed rate product, the answer is generally no, you can't "top up" your existing ISA. A small number of providers let you add new money during the term, but it's pretty unusual. Read the T&Cs of your product.
You can open a new ISA from 6 Apr and have 2 ISAs, that's no problem.
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