We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
ISA limits
Tigerboy
Posts: 4 Newbie
I have a new cash ISA in the last tax, for £20k, can I increase this in the new tax year (6th April 2025 to 5th April 2026), say by £6k so I would have a total ISA OF £26K. Which still leaves me will an ISA allowance to use for the tax year of £14k.
0
Comments
-
The ISA rule is £20K of new money per tax year, so yes, you can contribute up to £20K more over and above what you paid in last year - whether or not you can deposit more money into the same ISA will depend on the individual product's Ts & Cs, as most fixed term ones, for example, will only allow contributions within a short initial funding window after opening.2
-
Depends if the existing ISA will allow additional payments. If not then you can open a new ISA with £6k or up to £20kRemember the saying: if it looks too good to be true it almost certainly is.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards