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!
Another ISA muddle, sorry!
Jurgen500
Posts: 23 Forumite
I have a 2024 tax year cash ISA maturing in June 2025. I recently opened a seperate new 2025 cash ISA in April. Can I renew the 2024 ISA in June (open a new cash ISA with same or new provider) as its already has tax free status from 2024?
0
Comments
-
Forgot to mention, both the 2024 and 2025 ISAs use the full allowance of 20k each0
-
Yes
1 -
You can TRANSFER the maturing ISA and any interest to a new product.
What you cannot do is take the money out of that ISA and then put it into a new ISA as you've already used this year's allowance.1 -
Yes you can. Your maturing ISA might give you the option to put it into another fixed rate for another year, or it will turn into an easy-access ISA (probably at a lower rate) and you can shop around to find the best place to transfer it to. Just make sure you do an ISA transfer, don't withdraw it.Jurgen500 said:I have a 2024 tax year cash ISA maturing in June 2025. I recently opened a seperate new 2025 cash ISA in April. Can I renew the 2024 ISA in June (open a new cash ISA with same or new provider) as its already has tax free status from 2024?2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards