2 ISAs in 1 year

gaetss

Hi,

I'd like to know if there is a possibility to open for example the Barclays tax heaven ISA and put new money in, and in the same year transfert old money to another ISA provider (say Nationwide for example) . This means I would have 2 ISAs open the same year....

debbie42

Yes, you can.
The transfers aren't new ISAs, so don't contribute to your yearly allowance.

Oblivion

gaetss wrote: »

Hi,

I'd like to know if there is a possibility to open for example the Barclays tax heaven ISA and put new money in, and in the same year transfert old money to another ISA provider (say Nationwide for example) . This means I would have 2 ISAs open the same year....

Yes, perfectly legal. The rules say you can only subscribe new money to one ISA per year, but you can transfer old ISA money as often as you like and you can open as many ISAs as you like for the purpose of transferring old money. Just don't touch Barclays with a bargepole ... see dedicated thread re Barclays.

Dave.