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transfer - does it affect new ISA allowance
paynes1
Posts: 2 Newbie
I'm sorry if this has been asked before, but I couldn't find any reference using search.
I have a couple of cash ISAs from previous years, and I was wondering if I transfer some money to another cash ISA will this use up some of this year's £3600 allowance? Or is the allowance for 'new' funds?
Thanks
I have a couple of cash ISAs from previous years, and I was wondering if I transfer some money to another cash ISA will this use up some of this year's £3600 allowance? Or is the allowance for 'new' funds?
Thanks
0
Comments
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The allowance is for new funds only. So no, your allowance will not be affected.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0
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