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Posted Mon, 01 Jan 2024 18:09:05 GMT by TigerRod
Two questions: 1. - I have a single previous year's Cash Isa, into which I have not paid any funds in the current year. Can I transfer all of it, or part of it, to more than 1 new Cash ISA in the current year? 2. - If I have opened a separate new Cash ISA in the current year and used my maximum allowance to fund it, does this affect what I can do with the funds in the previous year's Cash ISA? Thankyou
Posted Tue, 09 Jan 2024 15:48:25 GMT by HMRC Admin 5 Response
Hi

You can only have one new cash ISA per year.  If you have two or more, you will need to decide which to close, to bring yu back to one.  
You can transfer from an older ISA to a new ISA this year.  The maximum is still £20000.00.  
If you have a previous years tax ISA and open a new cash ISA in this tax year, you can place a maximum of £20000.00 in the new cash ISA and still retain the amount in the old cash ISA.  
Have a look at the guidance at Individual Savings Accounts (ISAs)
and consider speaking to your ISA provider, who should have a more indepth knowledge.

Thank you

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