Cash ISA maturing soon - what are my options so it stays tax free and I receive a good rate?

SarahB16

Hello

I’m currently saving for a house move and am saving using cash ISAs. 

This one-year cash ISA will be maturing soon (mid/late June ’25) and am wondering what options I have to ensure I don’t pay any tax on this £20k going forward please   In the year to June ’25 it has been in a cash ISA tax (free) wrapper so I presume one option is to roll it over for another year with the same provider as they will know it is in the cash ISA wrapper but I may not get the best rate? 

I also have another £20k that I want to invest very soon (utilising my 2025/26 ISA allowance) and I’ll have the freedom to place this where I wish but don’t wish to mess up my plans by doing something incorrect with the £20k I saved last year which is maturing very soon.

Thank you very much for your assistance.  

slinger2

You'll almost certainly have the option to let the 1-year fix mature into an easy access ISA. You can then "transfer" it to another provider and, if you use the proper transfer process, it will be retained within the ISA system and won't use any of this year's allowance.

You could probably add some of this year's money to the same ISA, or open a second one. Entirely up to you.

Albermarle

Probably a good idea to read through the forum. Lots of threads about transfers etc