Isa Question

spurx2

I currently have an cash isa with kent reliance which was opened july 2007, my question is can i open a new isa now, say maybe the barclays tax haven one and would i also be able to transfer my kent reliance isa into say the abbey or alliance and leicester isa?

Lokolo

You opened the ISA in July 07, but have you put any money in it since April 6th 08?

If you haven't then you can do as you say. However, if you have you can't. You can top the ISA up and then transfer it (or transfer it then top it up) if you want though.

spurx2

Yes i have put £165 in it just last week...!!!!!!, so i guess that means i can transfer but not open a new one or keep my original isa in kent reliance and open a new one?

Baldur

spurx2 wrote: »

Yes i have put £165 in it just last week...!!!!!!, so i guess that means i can transfer but not open a new one or keep my original isa in kent reliance and open a new one?

As Lokolo said, f you have paid £165 into the KR Cash ISA since 06/04/2008 it's new money from this tax year's £3,600 allowance, which prevents you from opening a new Cash ISA with another provider and paying into that.

You could, however, add the £3,435 remaining from this year's allowance to the KR ISA, then transfer it to a different ISA provider, as long as they accept transfers.