At the moment, you will find loads of articles in the press about using up your tax-free savings allowance each year.
This is a good thing, because it is not often these days that you get something for nothing.
Also, like many others, you are probably aware that you are entitled to open a new Cash ISA each tax year, which is great too.
However, few people know that they are allowed to open a new ISA each year AND transfer accounts from previous years into it without having any impact on their annual tax-free allowance.
This means that if you have £20,000 in one cash ISA offering say 4.75% AER, you could transfer it into an account paying a higher interest rate and still be left with all of your yearly tax-free savings allowance.
Why not compare ISA savings accounts in our easy to use table.
Related articles: 'Transferring your ISA, step-by-step'
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