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Posted Thu, 14 Mar 2024 23:59:53 GMT by Username1£
I funded a S&S ISA last tax year (lets call it ISA A) then topped it up this tax year with 10k. I then opened a Cash ISA (B) and paid into it 10k. That's my 20k allowance used. I then transferred the whole of A to a new SS ISA with cheaper fees (C). All good so far. Only paid into 1 SS ISA this year but now its all in C. I then transferred the whole balance of Cash ISA B into a seperate SS ISA (D). To my understanding this is fine as it was all carried about via the correct transfer procedures. Stayed within 20k limit and only ever paid Cash into 1 SS ISA and 1 Cash ISA. Is this correct?
Posted Wed, 20 Mar 2024 15:50:19 GMT by HMRC Admin 5 Response
Hi

As long as there is only one type of ISA opened each year. you are free to spread your £20000 lime amongst them.  From 6 April 2024 this changes following the recent budget changes.

Thank you

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