Confused !

masonchard

Hi , how many ISA's can you hold at one time , I understand  it is only one allowance per year of £20,000  but eg . Can you open a new one every year with the full £20,000 and do you get tax free allowance on them all or just one each year ?
hope this makes sense

gravel_2

As many as you like. The only limit is you can only pay in a total of 20k new money per year. The 20k itself can be spread across many ISAs as well.

tacpot12

As per gravel_2's post, you can invest in as many ISAs as you want to in a single tax year as long as you only pay in £20k of new money in that year. This is a new rule that only started in this tax year. 

Be aware that you are responsible for ensuring that you don't pay in too much, and this becomes harder if you have more ISAs. You need to be very good at recordkeeping if you  are going to invest in multiple ISAs in the same tax year. 

p00hsticks

Also, if the current provider lets you (not all will, depending on the T&Cs), you don't need to open a new ISA every tax  year, you can simply add up to £20k to your existing one. 

Albermarle

masonchard said:

Hi , how many ISA's can you hold at one time , I understand  it is only one allowance per year of £20,000  but eg . Can you open a new one every year with the full £20,000 and do you get tax free allowance on them all or just one each year ?
hope this makes sense

If you read through the forum, you should be less confused, as there are many similar questions and answers.