Previous and current ISA subscriptions

cloudpegs

If previous subscriptions do not count towards current subscriptions, would it be possible to transfer previous subscriptions to a fixed rate ISA and then add current subscriptions to your existing ISA (opened in the previous tax year) within the same bank?

KiKi

In theory, yes.

The fixed-rate ISA may not allow transfers in, so check that out first. But yes, you can open an ISA just to make transfers in.

Re your 08-09 subscription, yes you can add that to an ISA account that you already have as long as you haven't added any other 'new' money to any other ISA in the same financial year.

However, whether the particular financial institution you're thinking of doing this with will *allow* you to have two of their ISA products is another matter. You'll need to check that with them.

HTH

KiKi

Mikeyorks

cloudpegs wrote: »

....would it be possible to transfer previous subscriptions to a fixed rate ISA and then add current subscriptions to your existing ISA (opened in the previous tax year) within the same bank?

Yes ... with most providers. But ensure the existing ISA isn't 'closed' as you transfer all the funds out into the fixed product? You could inhibit that by making a current year subscription payment .... prior to transferring previous year subscriptions out.