How many new Stock and share ISAs can I have?

thelittliesthobo

Can I have some advice please. A good chunk of my savings is in one fixed rate cash ISA that mature soon,it is made up of some of last tax years entitlement and previous years, I would like to transfer/split it to two/three new stock and share ISAs to spread the risk that I have not opened yet. Can I open more than one S and S ISA in this new tax year for them savings?.

Albermarle

Yes you can open more than one stocks and shares isa and transfer isa money from previous years into them . However you can only add new money to one S&S isa each tax year .
You do not spread risk by having more than one isa though . You spread the risk by having the right sort of investments within the ISA. 
One ISA with the right investments held within it is much better than three isa's with the wrong investments .

dunstonh

I would like to transfer/split it to two/three new stock and share ISAs to spread the risk that I have not opened yet.

How would having multiple ISA managers spread the risk?

Can I open more than one S and S ISA in this new tax year for them savings?.

for transfers, yes.  For new money, no.

Chloe_G

Sorry - just to clarify - I can't add £10K to my H&L S&S ISA and the other £10K to my Vanguard S&S ISA? 

So can I add £10K to one of them and then open a new one with the other £10K?

Aceace

Chloe_G said:

Sorry - just to clarify - I can't add £10K to my H&L S&S ISA and the other £10K to my Vanguard S&S ISA? 

So can I add £10K to one of them and then open a new one with the other £10K?

No. You can only add new funds to one ISA of each type (Cash ISA,  S&S ISA or IFISA) per tax year. 

You can transfer any amount of cash from any number of ISAs (Cash ISAs,  S&S ISAs or IFISAs)  from previous tax years. 

Chloe_G

Thank you.  So many rules, so many decisions.

d63

Aceace said:

Chloe_G said:

Sorry - just to clarify - I can't add £10K to my H&L S&S ISA and the other £10K to my Vanguard S&S ISA? 

So can I add £10K to one of them and then open a new one with the other £10K?

No. You can only add new funds to one ISA of each type (Cash ISA,  S&S ISA or IFISA) per tax year. 

You can transfer any amount of cash from any number of ISAs (Cash ISAs,  S&S ISAs or IFISAs)  from previous tax years. 

so would that mean chloe_g could add £10k to the h&l s&s isa, then open a new cash isa, somewhere, with the remaining £10k, but then do a full cash isa transfer to the vanguard s&s isa? (assuming that is, vanguard accepts cash isa transfers) 

Aceace

d63 said:

Aceace said:

Chloe_G said:

Sorry - just to clarify - I can't add £10K to my H&L S&S ISA and the other £10K to my Vanguard S&S ISA? 

So can I add £10K to one of them and then open a new one with the other £10K?

No. You can only add new funds to one ISA of each type (Cash ISA,  S&S ISA or IFISA) per tax year. 

You can transfer any amount of cash from any number of ISAs (Cash ISAs,  S&S ISAs or IFISAs)  from previous tax years. 

so would that mean chloe_g could add £10k to the h&l s&s isa, then open a new cash isa, somewhere, with the remaining £10k, but then do a full cash isa transfer to the vanguard s&s isa? (assuming that is, vanguard accepts cash isa transfers) 

No because that would be paying cash from the 2021/2022 tax year ISA allowance into 2 different S&S ISAs in that tax year. 

It would be ok to do the transfer after April 5th 2022.

Chloe_G

Could I put £20K into a cash ISA this year and at a later date during this year transfer the whole lot into a S&S ISA (to maximise my time paying zero tax while I decide which S&S is best for my needs)?
Thank you all.

MDMD

Chloe_G said:

Could I put £20K into a cash ISA this year and at a later date during this year transfer the whole lot into a S&S ISA (to maximise my time paying zero tax while I decide which S&S is best for my needs)?
Thank you all.

I’m not sure that you will get much benefit from that, the interest you will get on a cash ISA will be virtually zero so you’d probably be better off (with the reduced admin) by just leaving it where it is until you have decided.

Chloe_G

Yeah good point - I'm going to add it to my Vanguard LS and have done with it!