Stocks and shares ISA when I already have a cash ISA

anticlaus105

I want to apply for a Hargreaves Lansdown stocks and shares ISA.

I already opened a Principality regular saver ISA with £300 in April and will pay £300 pm till march 10 totalling £3600.

Am I ok to open a stocks and shares ISA with a different institution?

If I open the stock and shares ISA I assume I will only be allowed to pay in £3600. Is this correct?

Lokolo

Yep thats all correctamondo.

jfpeeps

Really you can have two ISA as long as neither is above 3,600?

debbie42

In each tax year (before the proposed recent budget increases), you get an allowance of £7200, of which a maximum can be £3600 in a cash ISA. So, you could have £3600 cash + £3600 stocks & shares, or you could, say, have £7200 in stocks and shares and nothing in cash. It's also possible (in theory, I've never tried it!) to move funds from a cash ISA to a S&S ISA, though not the other way.

You could, of course, have much more than £3600 in a cash ISA if you've added to it over the years.