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Posted Thu, 14 Dec 2023 18:49:26 GMT by Pc1717
I opened a 1 year fixed Cash Isa in December 2022 which is shortly due to mature. The maturity options given by the bank are: - transfer to a new easy access cash Isa - transfer to a new 1 year fixed Isa - transfer to a new (non Isa) savings account - withdraw the money I’d ideally like to transfer to a new 1 year fixed Isa, but at the end of April 2023 I opened a 1 year fixed rate Isa with a different provider. Am I allowed to take the ‘transfer to a new 1 year fixed rate Isa’ or is this not allowed as I already have an Isa for 2023/2024? Both of these ISAs mentioned have the maximum of £20,000 Thanks
Posted Tue, 19 Dec 2023 15:34:58 GMT by HMRC Admin 5 Response
Hi

You can transfer the one that is maturing but you cannot add any addtional funds to it until after 6/4/24.
You will also need to get the ISA provider to arrange the transfer.

Thank you

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