Cash ISA & S&S ISA in same year

When my Kent Reliance fix ends in April, I intend to move on to their 0.45% fix for a further year (unless anything changes with rates before)
Can I also open a S&S ISA with Vanguard (Lifestrategy 40/60) and pay into that in the same tax year?
Predominantly the new money will all go into the S&S but just wondered if you can pay into both? 

Replies

  • dj1471dj1471 Forumite
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    Yes you can pay into 1 S&S ISA and 1 cash ISA during each tax year, so long as you don't exceed the overall contribution limit (£20k).
  • Ljc80_2Ljc80_2 Forumite
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    Thank you for confirming
  • JGB1955JGB1955 Forumite
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    You won't be paying into a new cash ISA though, will you ? - you'll be transferring a previous years subscription into one... which is fine.
    #2 Saving for Christmas 2021 - £1 a day challenge £710/£638.
    #36 Saving for Christmas 2020 - £1 a day challenge.... £634/£366..
  • jimjamesjimjames Forumite
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    JGB1955 said:
    You won't be paying into a new cash ISA though, will you ? - you'll be transferring a previous years subscription into one... which is fine.
    Good point. In which case they'll be able to pay in £20k to Vanguard if they've not used any of their allowance elsewhere this year
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Ljc80_2Ljc80_2 Forumite
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    I will be transferring previous years pot into a new KR cash ISA and opening a S&S one to pay into with new money each month.

    But I wanted to know if I could also pay into the cash one if I wanted to with new money
  • AceaceAceace Forumite
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    Yes, you can open an  unlimited number of new ISAs of any types and transfer unlimited previous year's funds into them. 
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