Max ISA the following year - this may be a dumb question

Flyingkidney

I couldn't find this answer on the MSE guides.  Am I right in saying you can top up UP TO the the £20,000 limit the next year on an existing ISA. Even if it's maxed out the previous year, or are you supposed to open a new ISA ? 

I only query this cos my Trading 212 account lists shows current tax year allowance £20'000, used £0.00

Thanks  

Ayr_Rage

You can subscribe £20,000 of NEW MONEY every tax year.

It does not necessarily have to go into a new ISA.

As the T212 ISA is easy access and variable rate you can add to that, you do not need to open a new account.

Other ISAs will have differing rules, just read the Ts and Cs.

Middle_of_the_Road

Flyingkidney said:

I couldn't find this answer on the MSE guides.  Am I right in saying you can top up UP TO the the £20,000 limit the next year on an existing ISA. Even if it's maxed out the previous year, or are you supposed to open a new ISA ? 

I only query this cos my Trading 212 account lists shows current tax year allowance £20'000, used £0.00

Thanks  

Yes, you can deposit 20k per tax year.
It's only fixed term ISAs where additional deposits are restricted to a short period after they're opened.

Flyingkidney

Thank you,  Much appreciated