Does re-investing back into another Fixed ISA count towards your annual 20,000 allowance?

Shinds

Hi all,

So my partner has a fixed ISA coming to an end at the end of May 2025.

The bank has written to her and the 1st option is to just re-invest and fix it for another year and this is what she would like to do.

However, she has already added 4000 into a Lifetime ISA with another bank - last month.

So where does they leave us please?

Thanks

Middle_of_the_Road

Shinds said:

Hi all,

So my partner has a fixed ISA coming to an end at the end of May 2025.

The bank has written to her and the 1st option is to just re-invest and fix it for another year and this is what she would like to do.

However, she has already added 4000 into a Lifetime ISA with another bank - last month.

So where does they leave us please?

Thanks

You will have £16k allowance remaining for this tax year. Re-inventing a previous  ISA doesn't influence any contributions going forward.

Ayr_Rage

Reinvesting maturing ISAs from previous tax years has no effect on the current year's annual allowance.