pay into 2 ISAs in 1 year

Alexland

Lord_Baltimore wrote: »

So, can I have an active CASH ISA with 2 different providers in the same financial year as long as the total sum deposited in them does not exceed this year's limit of £20k i.e. can I put £10k (say) in one and £10k in the other or must I put the whole £20k in one of them only? I think it's the latter?

You can only contribute new money into a single Cash ISA provider each tax year - but some providers such as Nationwide will let you spread it across several of their Cash ISA products.

Alex

poppy10_2

If I have already subscribed to a stocks and shares ISA in this tax year, can I open another one purely to transfer an existing ISA from another provider from a previous year, as long as I don't make any new subscriptions to it?

ColdIron

Yes you can

badger09

poppy10 wrote: »

If I have already subscribed to a stocks and shares ISA in this tax year, can I open another one purely to transfer an existing ISA from another provider from a previous year, as long as I don't make any new subscriptions to it?

Can I ask why you need to open another S&S ISA? Does your existing provider not offer the investments you require?

eskbanker

badger09 wrote: »

poppy10 wrote: »

If I have already subscribed to a stocks and shares ISA in this tax year, can I open another one purely to transfer an existing ISA from another provider from a previous year, as long as I don't make any new subscriptions to it?

Can I ask why you need to open another S&S ISA? Does your existing provider not offer the investments you require?

I can't speak for poppy10 but have done something similar before to take advantage of different pricing models. by using one platform (with no fund purchase fee) for investing current year money and another (with no ongoing annual fee) for holding prior year money. Not a life-changing financial difference by any means but every little helps and all that....

badger09

eskbanker wrote: »

I can't speak for poppy10 but have done something similar before to take advantage of different pricing models. by using one platform (with no fund purchase fee) for investing current year money and another (with no ongoing annual fee) for holding prior year money. Not a life-changing financial difference by any means but every little helps and all that....

Fair enough.

Its just that some inexperienced investors (and I'm not including poppy10 in that as I know nothing about him/her) think that S&S ISAs function in a similar way to cash ISAs. IE that the S&S ISA is the investment, rather than the envelope/shopping bag/suitcase which can hold a variety of different investments.

poppy10_2

badger09 wrote: »

Can I ask why you need to open another S&S ISA? Does your existing provider not offer the investments you require?

My provider this year is Vanguard which only offers their own funds. I am happy to stick with Vanguard for this and future years subscriptions. But I have some non-Vanguard funds from previous years held with a platform that has a high platform fee, and want to move them to a platform with a lower percentage fee

maxkins

so you can only put cash into one CASH ISA per year but you could open a S&S ISA as well?

ColdIron

See post #1 onwards

poppy10_2

maxkins wrote: »

so you can only put cash into one CASH ISA per year but you could open a S&S ISA as well?

Yes .