Isa

rosiealice_2

For safety purposes, I don't want to exceed £50,000 in my current ISA Account. Providing I adhere to the amount permitted to be saved in each Tax Year, am I permitted to open another ISA and start saving there?

rb10

Have you paid any money in to your current ISA since 6th April 2009?

- If Yes, then you can only open another ISA elsewhere if you transfer all the money you've paid in this year to the new ISA (by filling in a form with the new ISA provider).

- If No, then you are free to open another ISA wherever you like, there are no restrictions.

Reaper

Each tax year you can choose to put your annual ISA cash into your existing ISA or open a new one to run alongside.

EDIT: beaten to it

Richard_Cocks

You may also transfer part balance to another ISA in any year.

Mikeyorks

For practical purposes (as that sounds to be a long term ISA?) you should also check your interest rate!

And if, as is likely, it's poor ....... you can resolve the £50k issue by transferring it to 2 x better providers and giving yourself some headroom?