More than one ISA with the same provider?

nearlyretired2004

(also posted on ISA board but duplicated here as I think a lot of the people with the right knowledge dont neccessarily always look at the ISA board as well - I know I dont!)

Thought I knew the answer to this but cant seem to find it in writing readily:

Can I have open than one of the same ISA product in a tax year?

Scenario is I 'upgraded' last years existing Santander ISA to the Santander two year fix and also subscribed this years money to it in April.

I now have a previous years ISA maturing - can I open a second 2 year fix and transfer into it?

I thought there was a rule about only one ISA with a provider in a given year, but cant readily find it ....

Thanks for any replies.....

opinions4u

As long as your not putting new funds into it, you'll be fine.

bigadaj

Each year is a different pot so you can transfer them, potentially doing ten individual transfers, say, per year if you have isas for each of those years.

One thing that springs to mind is that I think there have been cases of different pots being transferred to the same provider for the same product and these then being combined - not a huge issue but frequently these can't the be split in future, so you have two or more years investment in one lump.

nearlyretired2004

had much the same reply on the ISA board ....

by the way I've always loved your signature, makes me laugh every time ..... but I think the number of 'da's' in the middle depend on how you sing it !!

nearlyretired2004

I've done those 'combination' transfers before, but at the same time - my question was more around whether I could open two of the same product with the same provider in a given year - seems I can ...?

opinions4u

nearlyretired2004 wrote: »

had much the same reply on the ISA board ....

by the way I've always loved your signature, makes me laugh every time ..... but I think the number of 'da's' in the middle depend on how you sing it !!

There's a "da" missing in the second set of them!