ISA deposit 07/08

pardal51

dear all,

stupid Q really:

I have an Abbey Direct ISA 2 account (opened last year). Can I deposit £3.6K into it or do I need to open a new ISA account for 07/08, deposit £3.6K and then transfer all my balance from existing account into it?

Help is much appreciated.

mac12

Not a stupid question.

You can top it off with another £3.6k but cannot open another one. Or you can open another one and put in £3.6k and not top up your Abbey one.

You cannot open a new 07/08 as that tax year ran out on Sunday. You now need to think about 08/09.

Hope that makes sense

pardal51

mac12 wrote: »

Not a stupid question.

You can top it off with another £3.6k but cannot open another one. Or you can open another one and put in £3.6k and not top up your Abbey one.

You cannot open a new 07/08 as that tax year ran out on Sunday. You now need to think about 08/09.

Hope that makes sense

typo, I meant 08/09....So do I need to open an 08/09 or can I top up my current ISA account with this year's allowance of £3.6K???

Lokolo

Ok so you opened one for 07/08 and now you want to top it up for 08/09?

You can if you want, just put another £3600 in today (bit late now but tomorrow then). Or you can if you want, go to another bank and open an ISA with them, but I gather you'd rather just stick with the one you've got, if so yes, just stick another £3600 in there.