ISA account this tax year and next

donaldtramp

I've used up this years ISA allowance with the A&L ISA.
If I want to use next years ISA allowance do I need to open a new ISA account? Or can I just stick next years allowance of £3600 (for cash ISAs) into the same account?

Do I have the ability to put next years allowance (in the new tax year 2008/2009) into the same ISA account I have opened this year???

Looking for someone to straighten me out!!!:rolleyes:

Hopefully someone will be able to answer this fairly easily for me.

Thanks for reading
DT

Lokolo

Yep, if you want. on 6th April you can go transfer £3600 into the ISA which currently has £3000. Or you can open another ISA and put £3600 and have 2 accounts, one with £3k, one with £3.6k, completely upto you

chog24

I've an additional question, if someone can help, please?

If I have my maximum £3,000 in my 2007-08 ISA, with Bank A and open a different ISA with Bank B for 2008-09 and put my maximum £3,600 into it, can I then transfer the £3,000 from Bank A's ISA into Bank B's and still have it count as my 2007-08 allowance. In other words, can I end up with £6,600 in Bank B's ISA, all of it still tax free?

Thanks in advance for any clarification.

Ceri

david78

Yes you can do that too.

10_66

Just to add to the above answer, not all providers/products allow transfers in of previous years' ISA's.

chog24

David78 and 10_66: thanks to both of you... that's very helpful information

RickMoney

Yes, I wondered that and it cleared it up for me too Thanks.