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Multiple ISAs
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prasangv
Posts: 2 Newbie
I currently have a help to buy ISA with Santander, which has an interest rate of 2.25%, which I opened in November 2016. I currently deposit £200 p/m into this ISA. Can I open another cash ISA and use my £20k allowance on top of this?
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Comments
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HTB ISAs are a type of Cash ISA and you can only contribute new money into one Cash ISA each tax year which ends 5th April.However there is a workaround if you add money into the cash balance of a S&S ISA (such as Vanguard or Hargreaves Lansdown and not invest the money) you can use the remaining ISA allowance for this tax year and then next tax year (from the 6th April) you could transfer that S&S ISA into a Cash ISA and it would be counted as a previous year contribution.0
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