Do I need to do anything when switching between ISA providers?

johnnybaloney

Hello,

Let's say the first tax year I use:

• a LISA account with provider A,
• an S&S ISA with provider B,
• a cash ISA with provider C.

The next year I decide to use my fresh allowance with new providers (without transferring in from the accounts I used in the previous year):

• a LISA account with provider AA,
• an S&S ISA with provider BB,
• a cash ISA with provider CC.

So at this point I have 6 accounts open.

The third year I decide to use my accounts with providers A, B, C again.

Is there anything I have to do when I switch between providers like this? For example, 'deactivate' accounts from year 1 in my example when I go somewhere else the next year? Or 'reactivate' existing accounts I come back to in year 3 of my example? Or will everything just work, as long as I put funds into one account of each ISA type each year.

In other words is it my contributions that determine which provider I am with in a given tax year for each type of ISA or do I have to explicitly declare it somewhere?

masonic

If you miss a tax year when paying into an existing ISA there is usually a short application form to resume contributions, but this may only require a mouse click from you before funds are deposited in the ISA.