Two Share ISA's in same tax year?

eldy123

Hi,

Can I open two Share ISA's (each with different provider) in same tax year ? Ill make sure that the total amount invested in total is no more than the £7000 ISA limit?

Basically, I got some shares in Selftrade Dealing account that I want to transfer to the Selftrade ISA account but I have a Fidelity ISA open this tax years that has funds in it. I don't think I can transfer the shares over to Fidelity and Selftrade will penalise me heavily if I do so.

Thanks in advance.

Paul_Herring

No - you must use the same provider for the current year's contributions. Once the tax year has finished an the current year's join previous year's contributions, you may split them up how you like.

http://www.moneyweb.co.uk/products/investment/isa/isa.html

The Maxi ISA funds have to stay with one plan manager for ALL their components, (ie if you choose BigLife Maxi ISA for their unit trusts, then your cash element has to stay with whatever BigLife are offering).

You must either
1) contribute to Fidelity this year (which you said you don't want to do,)
2) transfer (this year's contributions in) Fidelity to Selftrade, or
3) wait until April 5th and do the transfer from Selftrade->Selftrade ISA (leaving Fidelity's funds where they are or move them if you wish.)