opening more than 1 ISA

warnski

Hi everybody - can anyone tell me if there's a limit to how many ISAs I can open in a tax year. I know the limit on how much I can put in, but am I only allowed to open one ISA account per year??
Thanks in advance

Kavanne

It's not the opening, it's subscribing (so putting new money in). You can only subscribe to one cash ISA each tax year. You could open 10 but you will only be able to put money into one of them.

savetilibleed

warnski wrote: »

Hi everybody - can anyone tell me if there's a limit to how many ISAs I can open in a tax year. I know the limit on how much I can put in, but am I only allowed to open one ISA account per year??
Thanks in advance

Or you could open one to transfer into if you wanted to (if you already have another low paying ISA you wanted to transfer out of thereby closing it if you transfer it all). Then if you wanted to, open a further ISA to subscribe to. Or subscribe to the same ISA you transfer to. Transfering is not subscribing, it's paying in new money that's subscribing and you can only do that into one ISA in a given tax year.

I have three ISA's open right now, one existing subscribed in the last tax year, the other two I have opened with zero balance. I am doing partial transfers of all the existing ISA thereby closing it, so I'll have the two new fixed rate ISA's transferred into. Then if I can I'll subscribe to one of them when I have some funds available.

JohalaReewi

Or you could read this thread...
http://forums.moneysavingexpert.com/showthread.html?t=1629209

BAR1000

Last year in December, I changed my current ISA with Halifax into a fix rate interest Isa for 1 year, therefore I cannot add or withdraw from this account and will expect to receive 4.5% interest tax free in December of this year.
Meanwhile can I open a new ISA account with a new provider in this current tax year and receive the full amount of tax free interest at the end of the tax year.

jem16

BAR1000 wrote: »

Meanwhile can I open a new ISA account with a new provider in this current tax year and receive the full amount of tax free interest at the end of the tax year.

Yes you can.