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Posted Sat, 18 Nov 2023 20:03:01 GMT by
Hi, At the start of the 23/24 tax year I transferred half of my old easy access cash isa to a fixed rate isa. I am now thinking of transferring the remaining half to a second fixed rate isa or to an easy access isa offering a better rate of interest. Is this allowed? I have not made any isa contributions for this tax year, the savings in my original isa were contributions from previous tax years. Thank you
Posted Wed, 22 Nov 2023 13:10:34 GMT by HMRC Admin 25 Response
Hi BarryC,
You cannot open 2 or more ISAs of the same kind in the same tax year, eg. cash ISAs.
If you want to transfer to another ISA and benefit from a better deal, you will need to transfer your ISA to the new provider and close the old account.
Thank you.   
 

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