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02 March 2010

Help needed with ISA rules please

Hi All, I've searched the Q&A and can't quite find what I was looking for so here goes: If I open an ISA now (Feb 2009/2010 year) and don't use up the allowance by the end of the financial year, I know I can carry on contributing for next years allowance but am I right in thinking that if I open a new one in 2010/2011 I can only contribute new money to the one I open that year, i.e. I can't spread the 2010/2011 allowance between 2 different CASH ISAs. Or is it the case that as soon as I use the one I open now (2009/2010) for contributions in 2010/2011 I'm committed to that one and cannot open another once I have made a contribution to the old one? I hope that makes some sense, it was difficult to word! :) Many thanks

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