I want to open an ISA for the next tax year

Krakkkers

But when i go to apply it says 2023/2024 tax year?
I want to open one now and fund it in the new tax year, also how do i know what ISA allowance i have left this year?

gravel_2

Your ISA terms should advise on funding window etc. 

You know your ISA allowance by remembering how many ISA subscriptions you've already made since 6 April 2023.

Krakkkers

It says 28 days but says i am opening an ISA for 2023/2024 tax year?
I want to put money in for next tax year.
Also i only have £15k now but will have another £5k in 2 months so can i open another ISA to complete my £20K?

refluxer

Krakkkers said:

It says 28 days but says i am opening an ISA for 2023/2024 tax year?

You can open it now and fund it after 6th April if the funding window is 28 days.

The fact that it states the ISA is for 2023-24 doesn't matter  - it's only stating that because that's the tax year at the time of account opening and it doesn't prevent you from paying into it in a subsequent tax year.

Krakkkers said:

Also i only have £15k now but will have another £5k in 2 months so can i open another ISA to complete my £20K?

Yes, you'll be able to pay new subscriptions into multiple cash ISAs though-out the tax year once the ISA rules change on 6th April.

jimjames

Krakkkers said:

Also i only have £15k now but will have another £5k in 2 months so can i open another ISA to complete my £20K?

No, as of 6th April you'll be able to pay in another £20k. There is an allowance every year so that resets at the start of the tax year and it's not a case of completing it, each year starts again. If you have only £5k to add it's fine to add that to an existing ISA if the terms allow it though.

Krakkkers

No sorry that's not what i meant, i meant next tax year i will have only£15k free initially but by the end of May i will have an additional £5k to put in.

badger09

Krakkkers said:

No sorry that's not what i meant, i meant next tax year i will have only£15k free initially but by the end of May i will have an additional £5k to put in.

refluxer said:

Krakkkers said:

It says 28 days but says i am opening an ISA for 2023/2024 tax year?

You can open it now and fund it after 6th April if the funding window is 28 days.

The fact that it states the ISA is for 2023-24 doesn't matter  - it's only stating that because that's the tax year at the time of account opening and it doesn't prevent you from paying into it in a subsequent tax year.

Krakkkers said:

Also i only have £15k now but will have another £5k in 2 months so can i open another ISA to complete my £20K?

Yes, you'll be able to pay new subscriptions into multiple cash ISAs though-out the tax year once the ISA rules change on 6th April.

@refluxer has already answered