A reader asks: What can I do with old ISAs form previous financial years?
Our response: If you have an old ISA accounts still open from previous years, either stocks and shares, peer to peer or cash ISA accounts, but have not paid into since the start of the new tax year you can choose to:
Leave them open and open an new one with a different provider (the interest you earn may be lower than when you first opened the account, especially in the case of cash ISAs)
Open a new account and arrange for the old ISA balance to be transferred to the new account
Begin paying into again (if your provider allows this)
Transfers made from old ISA accounts do not count towards your annual ISA allowance so are a good way to consolidate your ISA accounts if you want all of your investments in one place.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
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