Cash ISA Query

VKE

I'm hoping someone can help me clear up some household confusion:
1: We each have 1yr Fixed Cash ISA £20k (23/24 tax year) matures 31.03.25 
2: If we each open 2yr Fixed Cash ISA Cash ISA £20k (24/25 tax year) after 6.4.24

As ISA's No2 are 2yr ISA's does that mean we won't be able to open ISA's in 25/26 tax year as we've got 2yr ISA's running?

Mark_d

The ISA rules are about money you put in to the ISAs.  So in 25/26 you might be able to pay into your No2 ISA but you can also open and pay in to other ISAs. 

Albermarle

No,
The only limit is that you can not add more than £20K of new money to an ISA each tax year. When older ISA's mature is not relevant.

VKE

Mark_d said:

The ISA rules are about money you put in to the ISAs.  So in 25/26 you might be able to pay into your No2 ISA but you can also open and pay in to other ISAs. 

Thanx for clearing up confusion; much appreciated 

VKE

Albermarle said:

No,
The only limit is that you can not add more than £20K of new money to an ISA each tax year. When older ISA's mature is not relevant.

Thanx for clearing up the confusion; much appreciated