How Many ISAs

Hitting

If I have a Help to Buy ISA with provider A  and a Stocks and Shares ISA with B, with total less than £20k,if I want to have a further Cash ISA in this tax year do I have to get it from A or can I go and buy from a third provider C?

nottsphil

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the account within minutes (externally).

MichaelAP

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

I’m sure I read that with a Chip ISA you can take money out and place it back without it effecting your annual £20,000. Is this the case?

saverkev

MichaelAP said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

I’m sure I read that with a Chip ISA you can take money out and place it back without it effecting your annual £20,000. Is this the case?

Yes the Chip ISA is a Flexible ISA allowing money to be replaced without effecting annual allowance

masonic

A is also a possibility if provider A is one that supports holding multiple current year cash ISAs.

Hitting

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

nottsphil

Hitting said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

The question you asked was
 'if I want to have a further Cash ISA in this tax year do I have to get it from A or can I go and buy from a third provider C?'
Replying 'yes' would be ambiguous so I answered with 'C'.
If that wasn't clear enough I went on to tell you how I had subscribed to two cash ISAs with different providers this tax year. Furthermore, none of the subsequent respondents challenged this advice, so I am at a loss as to why you ask the question again.
Also, this thread should have been placed on the ISA sub-board.

wmb194

Hitting said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

The rules changed this 24/25 tax year. So long as you keep within the £20k per tax year allowance you can open as many accounts of each type with as many providers as you like.

If you look through the Isa sub-forum many of your questions will be answered there.

Hitting

wmb194 said:

Hitting said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

The rules changed this 24/25 tax year. So long as you keep within the £20k per tax year allowance you can open as many accounts of each type with as many providers as you like.

If you look through the Isa sub-forum many of your questions will be answered there.

And yet Shawbrook don’t allow an additional cash isa with them,whilst having another with other provider!

badger09

Hitting said:

wmb194 said:

Hitting said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

The rules changed this 24/25 tax year. So long as you keep within the £20k per tax year allowance you can open as many accounts of each type with as many providers as you like.

If you look through the Isa sub-forum many of your questions will be answered there.

And yet Shawbrook don’t allow an additional cash isa with them,whilst having another with other provider!

The new HMRC rule is not ‘optional’ for providers. They can choose to allow only one ISA with them, but can’t dictate where you open & fund others. 

Hitting

badger09 said:

Hitting said:

wmb194 said:

Hitting said:

nottsphil said:

C. I've just opened my second cash ISA of the year, (having already contributed to Chip's truly instant 5.1% variable), namely Virgin Money's 5.05% 1 year fix. Had to get the M+ current account to qualify for it,  (through the app as a new customer) and was able to fund the within minutes (externally).

The reason I posted original thread was …I thought you could only have one cash isa A and one SandS B per year!..so these aren’t the rules?
So I am within annual ISA rules if I have H to B ISA with  Nationwide,and a SandS ISA with Fidelity and I open another cash ISA say with Shawbrook?

The rules changed this 24/25 tax year. So long as you keep within the £20k per tax year allowance you can open as many accounts of each type with as many providers as you like.

If you look through the Isa sub-forum many of your questions will be answered there.

And yet Shawbrook don’t allow an additional cash isa with them,whilst having another with other provider!

The new HMRC rule is not ‘optional’ for providers. They can choose to allow only one ISA with them, but can’t dictate where you open & fund others. 

Agreed and understood…thank you