can i open a new cash isa if i already have a stocks and shares isa?

nickers

I have a Fidelity stocks and shares maxi isa already which i contribute to monthly. can i open a new mini cash isa as well?

Baldur

nickers wrote: »

I have a Fidelity stocks and shares maxi isa already which i contribute to monthly. can i open a new mini cash isa as well?

As of 6th April 2008, there is no longer any such thing as a 'Maxi' ISA - they are now called Stocks & Shares ISAa, so I presume that this is a 'Maxi' ISA from previous tax years?

From 06/04/2008 until 05/04/2009 you have an ISA allowance of £7,200, all of which can be paid into a Stocks & Shares ISA OR up to £3,600 of it can be paid into a Cash ISA and the balance into a Stocks & Shares ISA - so it depends how much you intend to pay into your Fidelity ISA this tax year :

If the full £7,200, then no you can't pay into a Cash ISA.

If you intend to pay less than the full £7,200 into Fidelity, then any balance up to £3,600 can be paid into a Cash ISA.

nickers

thanks very much, I will open a new cash isa as I won't be investing the full amount into my stocks and shares one.