ISA maturing, new account and transferring in another ISAs

ChickenLicken12

I have a cash ISA with Tesco set up Jan 2026 with £7000 transferred from a TSB ISA.

I deposited £20K from savings into this in new tax year April 26.

I have another fixed rate cash ISA with Virgin which matures end August.

I want to keep both going but all in one ISA.

Virgin have offered a new fixed term rate if 4.4% which would mean opening a new ISA account (closing the old on maturity).

Can i do this if I keep the money in the ISA, even though I’ve already used up my ISA allowance for this year?

And .. can I them transfer my Tesco ISA (total £27K) to this new fixed term Virgin ISA?

Thanks

eskbanker

As long as the Virgin product accepts transfers in then yes, you can do this, as transfers enacted via the receiving provider's ISA transfer process don't affect the current year ISA contribution allowance.

ChickenLicken12

Thank you. I thought it was possible just was over thinking the process

friolento

Just don't transfer your Tesco ISA yourself - ask Virgin to make the transfer for you