ISA allowance 2023/2024

Donedoingdebt

Hi all. New to this part of the forums so what I'm asking may be obvious to some of you.
I have a 2 year fixed rate ISA with Santander which was opened in October 2022, using all of 22/23 allowance. The account states that I am not allowed any further deposits after the first thirty days.
Given that, how can I use 23/24 allowance when it becomes available in April? Am I allowed to start another ISA & run 2 ISAs simultaneously as long as the 20k limit for deposits is not breached?

refluxer

Donedoingdebt said:

Given that, how can I use 23/24 allowance when it becomes available in April? Am I allowed to start another ISA & run 2 ISAs simultaneously as long as the 20k limit for deposits is not breached?

Yes, exactly that - just open a new one to fund with your 2023-24 allowance. You can have as many ISAs running side-by-side as you like, provided you stick within the rules.

Albermarle

New to this part of the forums so what I'm asking may be obvious to some of you.

Probably a good idea to spend some time scrolling through the forum, to get up to speed with the ISA rules.

Donedoingdebt

Albermarle said:

New to this part of the forums so what I'm asking may be obvious to some of you.

Probably a good idea to spend some time scrolling through the forum, to get up to speed with the ISA rules.

Yeah, I'll try to get some me time & try to look busy in front of my wife!!