ISA allowance

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[Deleted User]
[Deleted User] Posts: 0 Newbie
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in ISAs & tax-free savings
Quick question. If I open an isa in December 2017, and use the full allowance, do I need to wait until December 2018 to open a new one?

Thanks

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  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
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    No - they work on tax years.

    6th of April 2018 you'll be able to invest your next lump of 20k.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Thanks. So each tax year the limit is 20k and it doesn't carry forward if it's not all used?
  • badger09
    badger09 Posts: 11,206 Forumite
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    Deleted_User wrote: »
    Thanks. So each tax year the limit is 20k and it doesn't carry forward if it's not all used?

    No carry forward. Use it or lose it;)
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Final question, can i only open one stocks isa each tax year or could i split the 20k between more than one with different investments in each? For example, one in a tracker fund, one invested in a few select shares and one in a managed fund?
  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    Deleted_User wrote: »
    Final question, can i only open one stocks isa each tax year or could i split the 20k between more than one with different investments in each? For example, one in a tracker fund, one invested in a few select shares and one in a managed fund?
    You can only pay new money into one S&S ISA in any given tax year, but since it's just a wrapper there's nothing to stop you investing in multiple funds and shares within the same ISA (assuming of course the provider you choose offers all of the investments you have in mind).
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Also you can change your investment choices within the S&S ISA and even uninvest and hold cash for a while before you reinvest all within the wrapper. But some choices may be limited by your provider.
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