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On maturity, can I split and transfer a single existing cash ISA into more than one cash ISA?

Arkle
Posted Wed, 03 Apr 2024 10:48:27 GMT by Arkle
I have reviewed the advice on the HMRC website and cannot find any guidance on this following matter. Currently, I have a single existing cash ISA, the value of which is above the Financial Services Compensation Scheme limit of £85,000. On maturity, can I split and transfer the existing cash ISA to two (or more?) ISAs so that the total in each cash iSA is below the Financial Services Compensation Scheme limit of £85,000?
HMRC Admin 5
Posted Wed, 10 Apr 2024 08:01:38 GMT by HMRC Admin 5
Hi

The maximum you can invest in a new ISA would still be £20000 per year (Individual Savings Accounts (ISAs)).  You may wish to check with your ISA provider.

Thank you

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