Isa confusion

2stixoftwixes Forumite Posts: 75
Third Anniversary 10 Posts Name Dropper
edited 17 June at 11:27AM in ISAs & tax-free savings
I have already used my £20k ISA allowance for this year 2023 by opening a Santander 2 year fixed rate back in April
I  also have an existing  S&S Isa with Vanguard that is currently held as cash which I want to transfer out

My question

I was originally going to transfer the Vanguard S&S ISA into the Santander ISA on opening but never got around to it
As interest rates have gone up since April am I allowed to open a NEW ISA with someone new  just to give the S&S money a new home

or does it have to be an existing ISA that I currently hold (eg Santander)

I believe that I can open a new ISA with the S&S but just need confirmation



  • refluxer
    refluxer Forumite Posts: 2,100
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Yes, you can open a new ISA and fund it with a transfer - you just can't pay any additional subscriptions into it during the current tax year if you opened your Santander ISA on or after 6th April (ISA allowances are for the tax year, not a calendar year)
Meet your Ambassadors


  • All Categories
  • 338.8K Banking & Borrowing
  • 248.6K Reduce Debt & Boost Income
  • 447.5K Spending & Discounts
  • 230.7K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 171K Life & Family
  • 243.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards