Isas

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I Have A Stocks And Shares Isa From Previous Years Which I Am Still Contributing To. Can I Take Out A Cash Isa Each Year And Still Pay Into My Stocks And Shares Isa? Advice Would Be Most Appreciated.

Ximian

You can open either a Mini Cash ISA or a Maxi ISA but not both in the same tax year.
If you have an existing Stocks ISA that you contribute to, you can still open a Mini cash ISA providing that you don't invest or save more than the maximum annual allowance which is currently £7200 (cash portion increased to £3600)
So say you opened a Cash ISA this year and put £3600 into that cash ISA you could then use the remaining allowance of £3600 for your stocks ISA. I also believe that you can now transfer from a Cash ISA into Stocks ISA.

Hope this helps

Aegis

You certainly can now, as long as the amount you pay in to the two ISAs combined doesn't exceed £7200 with no more than £3600 of that going in to the cash holding.

Aegis

Ximian wrote: »

You can open either a Mini Cash ISA or a Maxi ISA but not both in the same tax year.
If you have an existing Stocks ISA that you contribute to, you can still open a Mini cash ISA providing that you don't invest or save more than the maximum annual allowance which is currently £7200 (cash portion increased to £3600)
So say you opened a Cash ISA this year and put £3600 into that cash ISA you could then use the remaining allowance of £3600 for your stocks ISA. I also believe that you can now transfer from a Cash ISA into Stocks ISA.

Hope this helps

There are no more mini and maxi ISAs, thankfully!

Ximian

Aegis wrote: »

There are no more mini and maxi ISAs, thankfully!

Hehehe true :beer: