ISA rules have changed Discussion

p1an0player

The allowance for ISAs is per year.

You're allowed to use this year's allowance and still keep previous years' tax-free investments running, regardless of how much they're worth.

Baldur

Poppyfields5 wrote: »

I've just opened a cash ISA with the full deposit of £3600. The pep has over £7000 in it..... is this classed as a new ISA? Surely this is unfair if so.... and what happens to my new cash ISA. I took it out in good faith.. not realising the other had become an ISA.

As p1an0player posted, your Cash ISA will be totally unaffected by the old PEP becoming a Stocks & Shares ISA.