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.