How many cash ISA's?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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KeokingKeoking Forumite
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Part of the Furniture 10 Posts Combo Breaker
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I already pay into a S&S ISA every month and have put £5k into a cash ISA in June. Can I open another cash ISA later on this tax year, assuming I don't go over the £15240 limit?

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  • Alter_egoAlter_ego Forumite
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    You can only subscribe to one cash isa in any tax year, irrespective of amounts.
    I am not a cat (But my friend is)
  • jimjamesjimjames Forumite
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    Why would you want to put more money into a cash ISA when you can do so much better outside?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jimjames wrote: »
    Why would you want to put more money into a cash ISA when you can do so much better outside?

    Because it's a tx free allowance you will lose forever if you don't use it by April 2017.

    Cheers fj
  • jimjamesjimjames Forumite
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    Because it's a tx free allowance you will lose forever if you don't use it by April 2017.

    Cheers fj

    A good reason for S&S ISA but as most people come nowhere near the annual limits now it's pretty irrelevant if the allowance gets used in full or not.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jimjames wrote: »
    A good reason for S&S ISA but as most people come nowhere near the annual limits now it's pretty irrelevant if the allowance gets used in full or not.

    Probsbly right fj
  • edited 30 August 2016 at 11:08AM
    lisyloolisyloo Forumite
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    edited 30 August 2016 at 11:08AM
    Why would you want to put more money into a cash ISA when you can do so much better outside?

    Can you give some examples of great offers outside an ISA with ACCESS i.e. not property or equities.
    Do you mean the bank accounts that make you jump through hoops and generally have small limits or is there another option?

    My savings are 80% in equities but I do need some liquid cash as until recently the past 12 months has not been a good time to sell.

    I personally keep ISAs for the long term benefit i.e. tax free for life, but I would be willing to forgo it if there was something MUCH better without tiny limits or jumping through hoops.
  • I have a stocks and shares ISA from last year, so this year can I add another £15,240 to the same account or do I have to open another account?
  • lisyloolisyloo Forumite
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    You can add it to the same account.
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