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  • FIRST POST
    • scot_789
    • By scot_789 13th Feb 18, 1:26 PM
    • 3Posts
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    scot_789
    ISA's how many
    • #1
    • 13th Feb 18, 1:26 PM
    ISA's how many 13th Feb 18 at 1:26 PM
    Still a bit confused on ISAs

    I have a cash one with Halifax (opened 5 years ago)
    Stocks and shares one opened (4 years ago)
    Crowd2Fund P2P ISA opened 2017

    I will be transferring Halifax one as interest is poor and want to open 1 or 2 more innovative ones.

    Question is I know limit I can put in per year across ALL is £20k BUT can I open 1 or 2 more innovative ones in 2018 prior to 5th April or do I need to wait until 6th April to open 1 more?
Page 1
    • eskbanker
    • By eskbanker 13th Feb 18, 1:30 PM
    • 6,286 Posts
    • 6,355 Thanks
    eskbanker
    • #2
    • 13th Feb 18, 1:30 PM
    • #2
    • 13th Feb 18, 1:30 PM
    It's not the opening date that counts, it's when they're funded - which ones have you paid new money into during the current tax year?
    • Linton
    • By Linton 13th Feb 18, 1:33 PM
    • 9,033 Posts
    • 9,120 Thanks
    Linton
    • #3
    • 13th Feb 18, 1:33 PM
    • #3
    • 13th Feb 18, 1:33 PM
    You can open as many as you like but you can only put new money into one of each type each year (unless your transfer during the year ). There are no restrictions on transfering old ISA money into a different ISA so you could move the whole of your Halifax cash ISA into your current or a new P2P ISA at any time. Note that you have to get the receiving ISA to arrange a transfer-in. If you take the money out of the Cash ISA it loses its ISA status.
    • scot_789
    • By scot_789 13th Feb 18, 2:29 PM
    • 3 Posts
    • 0 Thanks
    scot_789
    • #4
    • 13th Feb 18, 2:29 PM
    • #4
    • 13th Feb 18, 2:29 PM
    So If I open a new Innovative one (meaning I have two) I can only fund one of them? So say I had £5k to invest I could not put £2,500 into each of them, I could only put £5k in one of them? I am not talking cash ISA
    • Alexland
    • By Alexland 13th Feb 18, 2:41 PM
    • 1,640 Posts
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    Alexland
    • #5
    • 13th Feb 18, 2:41 PM
    • #5
    • 13th Feb 18, 2:41 PM
    So If I open a new Innovative one (meaning I have two) I can only fund one of them? So say I had £5k to invest I could not put £2,500 into each of them, I could only put £5k in one of them? I am not talking cash ISA
    Originally posted by scot_789
    You can only contribute new money to one of each type of ISA each tax year. You can however open a new one, transfer in the other one and continue to contribute up to the annual limits. Your old provider should tell your new provider how much you have contributed so far as part of the transfer.
    • ds1980
    • By ds1980 14th Feb 18, 7:31 PM
    • 1,189 Posts
    • 320 Thanks
    ds1980
    • #6
    • 14th Feb 18, 7:31 PM
    • #6
    • 14th Feb 18, 7:31 PM
    To clarify I can pay into a LISA (4k) with say AJBELL and a S&S ISA with HArgreaves (16k) ta.
    • Alexland
    • By Alexland 14th Feb 18, 7:40 PM
    • 1,640 Posts
    • 1,120 Thanks
    Alexland
    • #7
    • 14th Feb 18, 7:40 PM
    • #7
    • 14th Feb 18, 7:40 PM
    Yes that's fine a LISA (cash or s&s) is a different type of ISA to a S&S ISA.
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