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Multiple S&S ISA's

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I am in the process of transferring a previous tax year's cash e-ISA with Natwest to Vanguard in order to invest the cash in their funds.

My question is - would I be prevented from opening an additional S&S ISA this tax year or next in order to purchase individual shares?

Comments

  • eskbanker
    eskbanker Posts: 36,938 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If the NatWest (then Vanguard) ISA contains no 2019/20 money, i.e. no contributions made since 6 April, then you're free to open and fund another S&S ISA elsewhere whenever you like.

    If the existing one does have current year money in it then you'd need to wait until the 2020/21 tax year before paying into another S&S ISA.
  • Many thanks eskbanker

    The ISA being transferred only contains money from previous tax years. No contributions have been made this tax year.

    I presume then if I was to open an additional S&S ISA for purchasing individual shares (approx £2000 in total), I would not be able to top up the Vanguard ISA with regular monthly contributions (approx £200 per month)?

    Or can I make regular monthly contributions to the Vanguard S&S ISA and purchase individual shares in another S&S ISA - as long as I do not exceed my ISA allowance for the year.
    If this is the case, would it be better to have a S&S ISA (not Vanguard) which allows me to invest in Vanguard funds and to purchase individual shares on a regular basis?
  • eskbanker
    eskbanker Posts: 36,938 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You can only pay new money into one ISA of each type in any given tax year, so can only add to one S&S ISA - if you wish to buy Vanguard funds and individual shares then you'll need to ensure that the S&S ISA you pay into allows the purchase of both.
  • I'll consider my options then.

    Cheers eskbanker
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