ISA 2017/2018 placement.

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woody_56
woody_56 Posts: 167 Forumite
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in Savings & investments
Hi I'm aware that the new isa allowance is 20k per person.

Can that 20k be invested with various Investment trusts with different
companies or as the old rules with just one.

I can't find an answer for this even on the Gov site.?

Thanks Jim.

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  • ColdIron
    ColdIron Posts: 9,052 Forumite
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    Can that 20k be invested with various Investment trusts Yes
    with different companies No
    or as the old rules with just one. Just the one I'm afraid

    I can't find an answer for this even on the Gov site.?

    Each tax year you can put money into one of each kind of ISA. The tax year runs from 6 April to 5 April.

    https://www.gov.uk/individual-savings-accounts/how-isas-work
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    woody_56 wrote: »
    Hi I'm aware that the new isa allowance is 20k per person.

    Can that 20k be invested with various Investment trusts with different
    companies or as the old rules with just one.

    I can't find an answer for this even on the Gov site.?

    Thanks Jim.

    You can buy different investment trusts within an is a on a single platform though, so with hl, Charles Stanley, tddirect, iii etc
  • woody_56
    woody_56 Posts: 167 Forumite
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    Thanks for your replies.

    Could I still open a new ISA
    But top up an existing ISA with a different provider.
    Thanks Jim.
  • jimjames
    jimjames Posts: 17,619 Forumite
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    woody_56 wrote: »
    Thanks for your replies.

    Could I still open a new ISA
    But top up an existing ISA with a different provider.
    Thanks Jim.

    No. You can only pay new money into one S&S ISA per year. It's exactly the same rules that have been in place for many years.
    Remember the saying: if it looks too good to be true it almost certainly is.
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