Full ISA Guide Discussion Area

Lokolo

EmptySea wrote: »

I have a similar query to the above. I have a Barclays Tax Haven ISA from this year with £3600 cash in it. So, my question is what should/can I do in April?

Reading through the forums I have gathered that I can put a further £3600 cash into an ISA this year. As an example, could I keep the Barclays ISA and simply add a further £3600 to it, and if so would I then be earning tax free interest on the full balance? Alternatively, if I find a better deal could I transfer my full balance over and still have the £3600 to add to it? Hope someone can help

Yes that is correct. After April 6th.

You could transfer it elsewhere now, then open a new ISA on April 6th and deposit £3,600 in that.

I have already transferred by Barclays ISA to Halifax fixed for 2 years, which doesn't allow additional deposits, so I shall be opening a new ISA in April for 09/10.

Also the current rate on ISA is nowhere near 6% anymore.

jzi19

My intentions are to top up my s&s ISA in the next few weeks. When April 6th comes, would I need to open up another ISA if I wanted to continue investing in my chosen funds, or can I just continue adding as ive currently been doing (upto the £7200 for the new year). I use BestInvest for my investments. Just wondered what is the normal course of action.

Lokolo

jzi19 wrote: »

My intentions are to top up my s&s ISA in the next few weeks. When April 6th comes, would I need to open up another ISA if I wanted to continue investing in my chosen funds, or can I just continue adding as ive currently been doing (upto the £7200 for the new year). I use BestInvest for my investments. Just wondered what is the normal course of action.

You can continue adding just as you have been.

Mintoze

Very very basic question - can you have ISAs in different accounts, eg. Barclays and a.n. other?

Lokolo

Mintoze wrote: »

Very very basic question - can you have ISAs in different accounts, eg. Barclays and a.n. other?

Yes but not in the same year as we are in (so the ISA from 08/09 cannot be split into 2 pots)

Mintoze

Thanks Lokolo. So if I leave 07/08 & 08/09 in Barclays I could open a new one somewhere else for 09/10. But that would be a bit silly wouldn't it because Barclays have such a bad interest rate. It seems most companies have a good 12-month introductory rate then drop quite dramatically; well, the easy access ones anyway.

jenjade

is the max you can put into A ISA £7,200? if so once i have £7,200 can i just open another one? or is it £7,200 max per person? thanks jen

Natti_A

7,200 is the max per tax year, per person.

So if you have put 3600 in a Cash ISA, and 3600 into a S&S ISA you will have to wait till April 6th 2009 to put another 7200 in.

jenjade

oh i see can i put £7,200 into a cash isa in a year? or does it haev to be split?

Baldur

jenjade wrote: »

oh i see can i put £7,200 into a cash isa in a year? or does it haev to be split?

No, the maximum is £3,600 per tax year into a Cash ISA.