Egg Cash Isa

Tayus

I opened an Egg Cash Isa before the 5th of April and funded it with £3000.00 (the maximum). Now that we are into the new tax year it says that i can invest £3600.00 - Is this right because I thought that 3000.00 was the limit per year?

Another question I have is can I now deposit more into this Isa since we're into the new tax year? (always thought that a new Isa had to be opened?).

Final question - I opened an Isa with Halifax about 2 yrs ago but have never funded it, however it still appears on my summary page on the banks website, since I havent put any cash into it I assumed it wasnt active anymore so I opened the egg Isa as mentioned - Have I broke any rules?

Lokolo

The reason you can now put in £3600 is the government has risen the limt you can put in (yey!).

You can put £3600 in your Egg Cash ISA yes.

You can have as many ISAs opened as you want but you are only allowed to put new money into one. So you can have your halifax one open its fine. As long as you don't put money into both Egg and Halifax in one year, you're fine.

KTF

The limit has changed to 3600 for the 2008/2009 tax year.

Yes, you can now deposit this years allowance (3600) in to an existing or new ISA.

No rules have been broken with the Halifax ISA. You can open as many ISAs as you want in a tax year but only pay in to one.

Edit: Beaten.

Mikeyorks

The Halifax ISA won't be active any more .... it will have 'lapsed' as you haven't funded it during a full financial year. Do bit of 'housekeeping' and close it .... it's probably worthless anyway, in interest terms, if it's their 'standard variable'.