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Cash ISA rules for previous years monies
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Raj K
Posted: 09 October 2022 08:12:23(UTC)
#1

Joined: 22/04/2016(UTC)
Posts: 2,819
Hiya

Does anyone know if a person is allowed to change ISA multiple times a year (for example as interest rates rise) for previous years monies? So for example if i have opened an ISA with cynergy bank this tax year and transferred previous years money but NOT put any new money in , can i know open a CASH ISA with a new provider and transfer the funds from Cynergy and close that ISA (again not putting in any new monies)?
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MarkSp
Posted: 09 October 2022 09:03:32(UTC)
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Raj K on 09/10/2022(UTC)
Mr Spock
Posted: 09 October 2022 09:13:13(UTC)
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You can but not all ISA providers accept transfers so you need to check. Also, as far as I understand, you need to open an ISA with the new provider and fund via transfer AND/OR using your current year allowance.

Hope it makes sense.
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Raj K on 09/10/2022(UTC)
Raj K
Posted: 09 October 2022 09:14:39(UTC)
#3

Joined: 22/04/2016(UTC)
Posts: 2,819
MarkSp;242038 wrote:
https://www.gov.uk/individual-savings-accounts/transferring-your-isa#:~:text=You%20can%20transfer%20your%20Individual,must%20transfer%20all%20of%20it.

There are the rules



Thanks Mark according to this you can transfer your ISA at any time which is not what I thought it was and may have changed over the last years. I wish a lot of the money sites just copy and paste from the link you provided, much easier.
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