Sorry for the IT
ISA you can invest £3600 in a cash ISA per year. Does this mean by year 3 you can have £10,800 invested with 3 ISA's or can you only have 1 ISA at any time?. i.e they expire in April?
TIA to anyone that can help with this question
OT:ISA - Do they expire?
Sep 09, 2008
5 Replies
First reply
Yes You can only invest in one new one per tax year, but the previous years can remain invested No HTH.
Read the full reply
Yes
You can only invest in one new one per tax year, but the previous years can remain invested
No
HTH.
This isn't off topic for this group. In fact, it is one of the very few on-topic postings we've had recently.
You can pay in £3,600 to a cash ISA every year. That means that by year 3, you could have £10,800 plus any interest earned on the money in your ISA.
If you withdraw money from an ISA, then you can't put it back. It will count as another payment towards your limit.
You can only open one cash ISA each year. In year 2 & 3, you can either continue to pay into the same ISA as last year, or open a new one. If you don't pay money into an ISA in any one tax year, you can't pay into it in following years, you have to open a new one.
Bitstring , from the wonderful person Jonathan Bryce said
Well you have to fill in the declarations and provide your NI number again, but you can in fact re-activate a prior one (any of the prior ones you hold). The 'contribute again to previous year's one' just avoids a bunch of paperwork.
It does thank you.
Thank you
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