Transfer In ISA

Pagpot20

Hi there

I have an existing Cash ISA from last year's allowance which will mature on 7 May 2026. My question is …

Can I open a new ISA for this year on 6 April with £20K - one that accepts transfer ins - but ask them to transfer my existing one and all it's funds - on 8 May 2026 once my existing ISA has matured? Or do I need to wait until 7 May before opening the new one?

Thank you

Albermarle

You don’t have to wait until May 7th, not with most providers anyway.

However some may think a month gap is too long, so maybe wait for a week or two after April 6th before opening a new one .

Pagpot20

OK great. And I can still when I open put my £20k allowance in for this year?

FrugaiMacDugal

This tax year ends on Sunday 5th, so need to be quick.

Angelica123

Can you clarify when you opened your existing cash ISA? You use the terminology "last year" but then use "this year" to talk about the tax year starting 6th April.

I am presuming you actually mean you opened a cash ISA in this current tax year (possibily a 1 year fix opened May 2025) and are asking about next tax year.