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Posted Wed, 03 Jan 2024 08:14:28 GMT by
I have Cash ISA with Bank A at a AER X. I have seen other banks offering higher rates so I’m thinking of tranfering my Cash ISA. My questions are: 1. My Cash ISA has more than £20,000 (from previous years) if I transfer all of the funds to another provider would that be considered as above the maximum saving limit per year? 2. In this tax year I made a contribution of £1,000, could I still transfer my cash ISA to another provider or do I need to wait until the next tax year.
Posted Wed, 10 Jan 2024 12:04:50 GMT by HMRC Admin 32 Response
Hi,

You can open a new cash ISA, but only transfer a maximum of £20000 minus £1000 contribution from this year.

Thank you.

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