Current Tax year

spinner1

Hi,
I’ve a fixed rate cash ISA which matures later in this tax year.
When this happens I’ll obviously need to open a new product either with the same provider or another to maintain ISA status.
However before that, much sooner, I wish to open a new fixed rate cash ISA, using my full allowance.
Can I do both within this tax year?
Thanks in advance…

Ayr_Rage

You can subscribe £20,000 of NEW funds in each tax year.

What you do with a maturing ISA from a previous year has no effect on opening another, you can do that now.

As for the maturing ISA, DO NOT WITHDRAW the funds if you wish to retain ISA status, TRANSFER the funds.

Middle_of_the_Road

spinner1 said:

Hi,
I’ve a fixed rate cash ISA which matures later in this tax year.
When this happens I’ll obviously need to open a new product either with the same provider or another to maintain ISA status.
However before that, much sooner, I wish to open a new fixed rate cash ISA, using my full allowance.
Can I do both within this tax year?
Thanks in advance…

You can do both. If you go with a different provider for your existing ISA, make sure you ask the new provider to do the transfer.