Transfer Isa's Can I have two?

Scarlet.99

I have an old Isa with an amount of money in it which is all from Transfers of Previous years, last year I opened a new Isa for the current year with a different provider. This year I want to transfer the 'really old' money to a new provider as transfer only, but I do not want to add last years isa money I would like to transfer this to a different new provider and use this one for the current years allowance. If I can find a transfers only provider can I do this, all the money I have comes from different years but I want to keep it in two separate places.

Yorkie1

You can split previous years's ISA money into as many providers as you want, so yes you can do what you want - split the money into 2 providers (assuming both accept transfers in if you are moving the funds to 2 new providers).

You have to keep all the money put into an ISA this year together during this year.

decrement

Sorry to jump on this thread but Yorkie1 are you saying that in the 2013/14 isa year I can only hold one stocks & shares isa with one provider?

I thought you can have as many accounts as you want but they must add up to the total allowance?

dzug1

From a typical S&S ISA application form:

'I have not subscribed, and will not subscribe, to another Stocks and Shares ISA in the same tax year that I subscribe to this Stocks and Shares ISA'

You can hold as many S&S ISAs as you like (from previous years) but you can only subscribe to one new one.

decrement

Interesting, I maxed out my hl isa for 12/13, but then opened one with halifax with a view to invest some in there from 13/14. But it was opened prior to 6 April.

So I guess I'm in breach of the terms even though I have contributed nothing to the halifax one?

innovate

You can open as many as you like.

It would only be a problem if you deposited into more than one (of the same type) during the same tax year, and whilst there are still funds from the current year in other ISAs (of the same type).

You can of course have one "active" cash ISA and the same for S&S in any one financial year. And they do not have to be with the same provider,