Can I have more than one share ISA?

TM1

I have a share ISA with broker A. In April can I take out a new share ISA with broker B, but leave the other one running?

If so, how would the existing ISA with Broker A work? I assume I wouldn't be able to add any more money to it, but that I would still be able to buy and sell shares within it?

jem16

TM1 wrote: »

I have a share ISA with broker A. In April can I take out a new share ISA with broker B, but leave the other one running?

Yes provided it's after April 5th.

If so, how would the existing ISA with Broker A work? I assume I wouldn't be able to add any more money to it, but that I would still be able to buy and sell shares within it?

That's it exactly. You would be able to trade within it but just not add any new money to it. Or you could transfer it to another provider.

Linton

Why would you want to do this? Its much easier to manage your investments if they are all in one place. So typically you would set up an S&S ISA with a chosen broker and simply pay in your ISA allowance each year. If another ISA provider came along who was cheaper and/or had better facilities then it could be worth transferring the lot and continuing with the new provider.

grey_gym_sock

for instance, i have 1 S&S ISA for funds, and a different 1 for shares. many providers only offer 1 of funds or shares, or are only much good for 1 of them.

Linton

grey_gym_sock wrote: »

for instance, i have 1 S&S ISA for funds, and a different 1 for shares. many providers only offer 1 of funds or shares, or are only much good for 1 of them.

Yes, I do the same for the same reason and its a real pain as I would like to balance between the two. In my next life I will stick to one that does both.

Totton

HL allow me to mix funds, IT's etc all in the same ISA. This makes it very easy to manage the ISA.

Nicholas-bloody-Parsons

TM1 wrote: »

I have a share ISA with broker A. In April can I take out a new share ISA with broker B, but leave the other one running?

Yes I have done this. This is perfectly normal to spread your investments across ISA managers.

Obviously if you hold alot of cash in your stocks ISA, you are only legally covered up to £50k (per broker) should the broker go bust or you are subject to fraud.

TM1 wrote: »

If so, how would the existing ISA with Broker A work? I assume I wouldn't be able to add any more money to it, but that I would still be able to buy and sell shares within it?

Operate it as normal.

FWIW. You only allowed one ISA subscription for each year. In future tax years you can add money to either S&S ISA, but not both in the same year..... Although you will probably have to fill out new customer subscription forms or make new declarations in order to add more cash to ISA-A.