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Posted Thu, 21 Mar 2024 21:32:26 GMT by Ram94
Hi, I have opened and contributed into a cash ISA 23/24. A cash isa opened in 22/23 has now expired. Can I open another cash isa in 23/24 and transfer my expired ISA from 22/23 into this ISA?
Posted Tue, 26 Mar 2024 11:16:38 GMT by HMRC Admin 8
You cannot open two of the same ISA in the same tax year at this time.  
From 6 April 2024, there are changes to the rules on how ISA's operate.  
You will be able to pay into multiple ISAs of the same type, but still limited to £20000.
Thank you.
Posted Tue, 26 Mar 2024 11:22:16 GMT by Ram94
Hi, but if I need to open an isa to enable me to transfer an old ISA into it I read that as being ok, the rules are around contributions not opening right? Otherwise how is an ISA transfer possible?
Posted Thu, 28 Mar 2024 09:52:14 GMT by HMRC Admin 25
Hi Ram94
Please refer to:
Individual Savings Accounts (ISAs)
Thank you. 
Posted Thu, 28 Mar 2024 21:34:57 GMT by luckyreddy9 God
I opened three ISA's in three different banks and deposited money 20000.00 GBP in two banks ( Two ISA accounts) is there any problem and do I need to pay more tax ? Other bank ISA account I opened and I deposited 20000.00 and with drawn 20000.00 GBP on the same day is there any problem ?
Posted Tue, 09 Apr 2024 09:34:24 GMT by HMRC Admin 32

As you can only deposit funds in 1 cash ISA for the current tax year, one of the accounts will no longer qualify as tax free. HMRC will contact you after 05 April 2024  to confirm the position.

Thank you.

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