ISA best practice?

borodave_65

Hi there, I'm just about to set up an ISA for the full 20k allowed. However, next financial year I'll have a similar amount again. Do all/any ISAs allow you to add the additional 20k to the original 20k OR is it best to set up an additional ISA in the subsequent year?

Ayr_Rage

Not all ISAs allow further contributions, you'll need to check the Ts and Cs.

There are numerous threads on this topic, suggest you read a few.

eskbanker

There are essentially two different types of cash ISA (as with taxable savings accounts), namely fixed term/rate and variable easy access - the former will typically only allow deposits during a short initial funding window, so if you prefer to use these then you'd probably need to use different ones across multiple years, but the latter will allow ongoing contributions.  As above, check Ts & Cs of any specific product you have in mind....