switching regular ISA providers

Sep 28, 2004 1 Replies
S

Hi,



If I want to stop paying into a regular savings ISA (currently with a fund supermarket) and redirect it to a new ISA regular savings scheme for a fund not available within the supermarket - is this allowable ?



At the back of my mind is the recollection that you cannot take out more than one maxi ISA a year - even if you pay trivial sums into it.



So, do I have to wait until next April, or can I stop now, and start with a new plan next month as long as I do not exceed the £7,000 annual limit.



Thanks SS.


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P

Your right, you can only have one maxi ISA in any one tax year. But you could transfer your current ISA into the new one you prefer and start contributing to it(up to yout total limit of £7k.)

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