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Pipsqueak

Isa Rules For New Account

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Am I able to open a new account to transfer an existing ISA balance into and also open an ISA with a different provider for new funds in the same tax year?

So am I able to open 2 accounts if I only put "new" funds into one?

Thanks

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Am I able to open a new account to transfer an existing ISA balance into and also open an ISA with a different provider for new funds in the same tax year?

So am I able to open 2 accounts if I only put "new" funds into one?

Thanks

I can't see why not. I'm applying for an ISA account at the moment and I am given the option of depositing into the account or transferring money from an old account or both. So, conceivably, you could just do the transfer in one account and open a different account for this year's investment.

Having said that, one of the terms and conditions of the ISA I'm getting is:

I have not subscribed and will not subscribe to a Maxi ISA or another Mini Cash ISA in the same year that I subscribe to this Mini Cash ISA.

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Yeah I did try to rewrite it a couple of times as I knew someone was going to say that... but there were just too many variables to fit in an easy sentence: 3 ISA's (1 old 2 new), 1 existing balance, 1 new balance, 1 tax year, 3 providers and me :huh: (thankfully no mention of a Partridge in a Pear tree or a kitchen sink)

Anyway thanks for the info guys and the link.

Edited by Pipsqueak

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