Money management fixed rate cash isa - cash Isa - fixed cash isa

knuut

when my fixed rate cash isa matures.. I can let it default to ordinary flexible cash isa. Can I withdraw some monies then and re-invest the whole of the remainder back into a fixed isa ie if I had 40k initially , withdraw 10k and then transfer the remainder (30k) into a fixed rate cash isa and also add a further 20k as being the new tax year limit.? All I really want to do is keep the original isa monies going

flaneurs_lobster

Yes you can, given the caveat that the new fixed cash ISA allows transfers in (not all do).

eskbanker

Can I withdraw some monies then and re-invest the whole of the remainder back into a fixed isa ie if I had 40k initially , withdraw 10k and then transfer the remainder (30k) into a fixed rate cash isa and also add a further 20k as being the new tax year limit.?

Just to add to the above point about accepting transfers, most fixed term cash ISAs will only have a limited initial funding window, so often won't allow subsequent deposits beyond the first 14/28/30 days. You don't say when your existing one matures, so it could be close to or even after the change in tax year, but worth bearing in mind and reviewing terms caefully.

Albermarle

You need to organise any transfer via the new/receiving scheme.