ISA Allowance ?

jpuphill

I am a little confused. In June 2016 I opened a new Stocks/shares ISA and filled it up to the max 15.24k. In January 2017 I sold out my investments and closed the account.

Can I open a new ISA with a different provider before April 6th and fill it up to the 15.24k limit?

Some sources have said I can only have one ISA in a tax year / others say I can only have one ISA opened at any one time in a tax year. Please provide official source of reply if possible

p00hsticks

No - you can only put a total of £15,240 into ISAs in 2016-17, and you've already done that.

http://www.moneysavingexpert.com/savings/ISA-guide-savings-without-tax#in

Alter_ego

You could ask the provider to reopen the ISA and refill it.

masonic

Alter_ego wrote: »

You could ask the provider to reopen the ISA and refill it.

It's unlikely that the S&S ISA will be flexible. Most aren't.

S&S ISAs are not subject to the self-transfer loophole either, so the OP has blown this years allowance.

jpuphill

Thank you all. I thought so before I closed account but wasnt 100%

I need the money as cash for a house and the platform charge was going to increase in a month's time so I wasn't likely to use ISA allowance anyway