Can I open another cash isa next year if I open a 2 year cash this year

WSB

Can I open another cash isa next year if I open a 2 year cash this year?

Linton

WSB said:

Can I open another cash isa next year if I open a 2 year cash this year?

Yes the rules say  you can only pay into one cash ISA each year, which is what you are proposing to do.

refluxer

WSB said:

Can I open another cash isa next year if I open a 2 year cash this year?

You can open cash ISAs of any type or duration whenever you like but the important rule is that you can only pay new subscriptions (from the current tax year's allowance) into one cash ISA at any one time.

So - if you pay subscriptions from the current tax year into a 2 year fixed rate cash ISA now, then yes - you can open another and pay subscriptions from the next tax year into it after 6th April 2024.

Qyburn

Or indeed you can pay into an existing ISA next year. You don't have to open a new account every year. 

BPauseMSE

Qyburn said:

Or indeed you can pay into an existing ISA next year. You don't have to open a new account every year. 

If it was a 2 year fix you entered you may not be able to pay into the same one for year two as it is likely limited, but you could open another ISA in year two (as long as it is a different tax year).

ZeroSum

Well after April you can open & fund as many as you like as long as you stick to the £20k limits

Albermarle

WSB said:

Can I open another cash isa next year if I open a 2 year cash this year?

There is a sub forum just for ISA's where these types of questions are regularly asked and answered, so worth having a look through it. 
ISAs & tax-free savings — MoneySavingExpert Forum