I have an ISA that I haven't put anything in to for a couple of years (ISA (A) with Provider (A)).
I opened a new ISA a few days ago in the 2010/11 tax year (ISA (B) with Provider (A)), and plan to add to that in a few days time (2011/12).
My question is: is it allowable to transfer ISA (A) to another Provider (C) in 2011/12, (although I can't add to that because of the planned addition to (B))?
TIA
TF
Yes.
Thanks!
TF
Basically, you don't open an ISA which you necessarily continue to pay into year after year. You can pay into new ISA plans each year, but you can't put some into one and some into another in the same year. Also you can move your ISA savings to another ISA at anytime because the money does not count as fresh ISA money in the year you make the move - so it doesn't eat into your ISA allowance.
Rob Graham
Have something to add? Share your thoughts — no account required.
Ask the community — no account required