Using ISA allowance
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Rockaway
Posts: 1 Newbie
I opened a 1 Yr Virgin Fixed Rate E-ISA Issue 373 in March 2019 and added £8000 at the beginning of the 2019/20 tax year to add to the funds from previous years. It is due to mature on 24th March 2020. When I move it to another provider can I add the remaining £12000 of my allowance before 5th April?
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I opened a 1 Yr Virgin Fixed Rate E-ISA Issue 373 in March 2019 and added £8000 at the beginning of the 2019/20 tax year to add to the funds from previous years. It is due to mature on 24th March 2020. When I move it to another provider can I add the remaining £12000 of my allowance before 5th April?
Edit: on reflection, this will only comply with ISA rules if all of your 2019/20 contributions are in the same cash ISA on 5 April, so, as you might struggle to complete a transfer that quickly (during a busy time for ISA providers), you may need to pay the £12K into whatever easy access product Virgin uses for the proceeds of the fixed one, and then transfer it all to another provider once the new tax year starts.0
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