A few basic ISA questions

timrichards

Hi, sorry for the "noob" questions, but:

- Can I still pay into last year's cash ISA - or only the one I open this tax year?

- Can I open a stocks and shares ISA and a cash one this tax year?

Thanks

CrickJon

Yes (but it will still count as part of your £20k allowance this year).

Yes.

Albermarle

Suggest you read through the forum, and then you will not be an 'Isa Noob' anymore !

eskbanker

timrichards said:

- Can I still pay into last year's cash ISA - or only the one I open this tax year?

You can pay into an ISA opened last year if it still accepts deposits - most fixed rate/term products don't allow further contributions after an initial funding window, but you can continue to pay into easy access ones.

There's no need to open and retain one (or more) per year as such though, so worth considering what you're looking to achieve and plan the best solution from that, which may entail transferring, for example - one recent poster was sharing how they'd got no less than 12 and was struggling to consolidate them!

jimjames

Also worth checking rates, last year's cash ISA might be paying a poor rate compared to the best now