Multiple fixed rate Isas

Baffledbrain

I have had Isa’s from the very beginning. Am I able to open multiple cash isa’s in the same tax year by only transferring in old Isa money ? So not adding new money but getting a higher interest rate? Thanks 

jak22

The only rule that matters is no more than 20000 in total of new money, each tax year over one or more ISAs. The rules dont list all the things you can do which is likely why there are frequent ISA questions here. Old money has never been an issue as transfers of previous years, or interest earned, arent subscriptions, only new money. Just opening an ISA isnt a subscription. What might matter are the individual T&Cs of each provider about accepting transfers in or opening multiple ISAs within that provider.

sammy_zammy

You can open as many fixed rate cash ISAs per tax year as you like, either to transfer from a previous ISA, or to add new money.

It used to be restricted to one a year for new funds, but that rule no longer applies.