Hi,
I have £20k in a cash ISA that I paid in this tax year. The bonus rate ends in April.
In April, in the new tax year, I intend to transfer it to another cash ISA with a new bonus rate.
My question is, could I then open a second cash ISA and deposit another £20k?
Or should I do the transfer before the new tax year?
Essentially, I want to ensure that in the new tax year, all £40k gets the new bonus rate, tax free.
Thanks
You will need to contact our Savings team on 0345 678 5678 (Mon - Fri: 8am - 6pm, Sat - Sun: 9am - 2pm) to transfer the previous tax year funds (£20k), they will be transferred with the previous tax year funds status which will allow you to add another £20k into the account for the new tax year.
@Joanne-D that makes much more sense!! I didn't realise that I could add another £20k to the same cash ISA account.
I'll open up a new cash ISA in the new tax year and call asap to get it transferred, then.
Thank you!
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Joanne-D
