ISA transfer advice

hornbydd

All,

I'm getting myself a bit confused about transfering, so thought I'd ask you all.

I have been saving for a few years into a Barclays mini-cash ISA, and now their rates are not favourable. I'm in a lucky position that I can pay upfront £3K into my Barclays ISA but my question to you all is do I do that now then transfer the whole ISA to a new scheme or do I transfer my ISA to an new scheme then chuck in my £3K 2008 allowance? I ask this because when I look at the Alliance & Leicester application form is says

"You have not contributed to another Cash ISA in the same tax year that you subscribe to this Cash ISA"

If I put £3K into my Barclays ISA then try to transfer the lot would I be breaking this rule?

Duncan

earlgrey_3

You won't be breaking any rules as such but might find a few providers expect you to open this year's ISA with them before they allow you to transfer money in from your previous provider, so check with whoever you fancy first. Also this year you can subscribe up to £3600 to your cash ISA.