Can I put 3000 in a new mini cash ISA now and 3000 more on April 5th?

Question

Sorry for the basic question, I've only recently got to the point where I could consider serious saving, and I thought cash ISAs were on the way out, so didn't really study them too hard. Now the Chancellor's extended them to at least 2010 it seems daft to have 6k stewing in an taxable e-savings account when it can be working a little harder.

I was under the impression it didn't matter when your yearly limit of 3000 went into the ISA. But reading around I'm getting confused with references to regular saving and standing orders, so I thought I'd check.

Thanks for reading.

Andrew McP

Jeremy Goff · Accepted Answer

It doesn't matter when, you can bang 3K in now in another 3K (total) in the next tax year, this could go into the same cash ISA J

GSV Three Minds in a Can · Answer

Bitstring  , from  the wonderful person Andrew MacPherson   said Yes you can. Don't sign any standing orders, just put 3k in now. Another  3k after April 6th (either to the same a/c or to a new one).

David Floyd · Answer

Not April 5th though! New tax year starts 6th April.

Andrew MacPherson · Answer

Ok, thanks. I thought it was the 6th as well until I started reading around this morning. Looks like that's something else I got confused by. I think I was born to be poor, money's such hard work ;-)

And thanks to everyone else who replied as well.

Andrew McP

GSV Three Minds in a Can · Answer

Bitstring  , from the  wonderful person Andrew MacPherson   said It midnight on 5th April, headed into 6th April.  It used to be spring  equinox, iirc, then some damn pope changed the calendar. 8>.

BrianW · Answer

Make sure you take into account the time it takes for the transaction to take place. I.e. don't leave it too late. I have a standing order to put

250 into my cash ISA each month, on the last day of the month. One day it will just miss the deadline...

Brian

Alex · Answer

At 10:39:47 on 17/03/2005, GSV Three Minds in a Can delighted  byannouncing: the wonderful person Andrew MacPherson  said Nope - it's 00:00 (midnight) on April 6th

Can I put 3000 in a new mini cash ISA now and 3000 more on April 5th?

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