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ISA transfer

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abstibus | 08:41 Tue 09th Oct 2012 | Personal Finance
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If an ISA is transferred to another provider, can it still be topped up to the max or is the transfer looked on as a top-up?
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The transfer, if done properly, is just a transfer. You can still top up to the annual maximum taking account of what you have already put in this tax year
If the ISA is transferred directly from one provider to another it can still be topped up. Get the banks to do the transfer directly.
If, however, you cash the ISA and take the money to another provider, this would be classed as a new ISA and normal rules would apply.
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