Maturing cash ISA quesry

BalthazarBee

I have a 1 year fixed rate cash ISA maturing in late June.

ICan I reinvest immediately into a new ISA & retain the tax free status or do I have to hang around till April '27?

I have already used this year's ISA to open a new 1yr fixed rate cash ISA.

flaneurs_lobster

Yes you can.

The annual limits only apply to new money.

Albermarle

https://forums.moneysavingexpert.com/discussion/6665539/maturing-cash-isa-quesry

If you read through the forum, all your cash ISA questions will be answered !

MACKEM99

You may not be able to instruct the provider you are with that you wish to reinvest until nearer the maturity date, this can vary depending on the provider. If for any reason you want to move it to a new provider open one with the new provider first and ask them to take it from current provider. Please do not close it with current provider yourself.

Hope this helps.

QQQQQQQQ_Y

https://forums.moneysavingexpert.com/discussion/6665539/maturing-cash-isa-quesry

You can reinvest it (either with the existing provider or another provider) when it matures in late June. If you want to reinvest the ISA you should NEVER withdraw the money as it loses its tax-free status. In April 2027 your new ISA will also mature (if it's a one-year fix) and you can then reinvest that one as well.

friolento

There's a guide you might want to read: https://www.moneysavingexpert.com/savings/isa-guide-savings-without-tax/#transfer

Note, you don't have to speak to any new provider - you can just open a new ISA and then immediately fill in the ISA transfer form of the new provider. Most providers will allow you to submit the transfer request ahead of maturity, with the instruction to wait for maturity.