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ISAs over two financial years

Last post Sat, Mar 24 2012, 8:27 PM by nogoodnews. 2 replies.
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  •  Sat, Mar 24 2012, 8:27 PM

    Re: ISAs over two financial years

    Cheers. Thanks for this. Its getting to be hopeless to find any return on savings. Looks like ISAs are the best bet.
    • Post Points: 5
  •  Sat, Mar 24 2012, 1:34 PM

    Re: ISAs over two financial years

    No. There are no restrictions on when you finish your ISAs but you can only start one new cash ISA each financial year. You started one in 2011/12 and you can start another in 2012/13.

    When the 2 years is up for the 2011/12 ISA, you can transfer that ISA to a new provider or withdraw the money, as you prefer. If you transfer an old ISA it does not count as opening a new ISA so you could also open another new cash ISA in 2013/14 if you wished.

    • Post Points: 20
  •  Fri, Mar 23 2012, 7:46 PM

    ISAs over two financial years

    I took out an ISA in October 2011 for a two year period with the Post Office. Simple question - Does ths prevent me from taking out another ISA in the 2012/13 tax year , or am I restricted in any way on investing in ISAs in 2102/13?
    • Post Points: 20