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Posted Sun, 05 Nov 2023 01:57:35 GMT by
Hi, I currently have a H2B ISA that was opened many years ago, but has been paid into this financial year. I wish to transfer it to a normal cash ISA under a different provider. I have already opened this separate ISA, but have not yet paid into it. If I do this, and the H2B ISA closes in the process, would I be able to pay into the new ISA after the transfer finishes? Thanks
Posted Thu, 09 Nov 2023 06:46:31 GMT by HMRC Admin 25 Response
Hi Jonny Young,
The limit for payment into an ISA is £20000.00, which include the amount paid into the other ISA this year.
Thank you. 
 
Posted Sat, 11 Nov 2023 12:12:44 GMT by
Hi, thanks for your response. Assuming I have not paid my full ISA allowance for the current year (£20,000), if I have been paying into a Cash ISA but want to transfer it all to another provider and close it, can I pay into that new Cash ISA in the same tax year? I understand that you can only pay into one Cash ISA per tax year, but does that hold if I transfer and close the old one?
Posted Wed, 15 Nov 2023 10:37:48 GMT by HMRC Admin 20 Response
Hi Jonny Young,
You cannot open 2 or more cash ISAs in the same tax year.  
If you want to transfer to another ISA and benefit from a better deal, you will need to transfer your ISA to the new provider and close the old account.  
You should contact the new provider and ask them to arrange the transfer.
Individual Savings Accounts (ISAs)
Thank you.

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