Isa question

army_wife

Hi all

I know you are only allowed to have 1 ISA per Tax year but can me and my husband both open 1 in the same year. Any help appreciated

KingL

Yes. The I in ISA stands for Individual. Marital status doesn't come into it.

rb10

Every person is allowed to pay money into one ISA per tax year.

So as you and your husband are different people, yes, you can each open your own ISA this year.

Remember that the £5100 limit is only on paying new money into ISAs - you can transfer ISAs around from one bank to another as much as you like.

sunil1234

rb10 wrote: »

Every person is allowed to pay money into one ISA per tax year.

So as you and your husband are different people, yes, you can each open your own ISA this year.

Remember that the £5100 limit is only on paying new money into ISAs - you can transfer ISAs around from one bank to another as much as you like.

you mean £10,200?

Loughton_Monkey

To clarify. All UK individuals can put £5,100 per year into a cash ISA, plus another £5,100 into a Stocks & Shares ISA, making a potential maximum of £10,200 per person. My wife and I put £20,400 into these investments every year.

Red_Cat

The limit rose to £10200 only occured in April 2010 (Oct 2009 for over 50s).
The investment limits are £5100 cash and £5100 equities, or if no cash element is taken, the limit is £10200 for equity investments.