Transferring S&S ISA and introducing new money

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  • masonic
    masonic Posts: 23,278 Forumite
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    csgohan4 wrote: »
    just double checking, if I have a S+S isa for 2017/8 up to the max amount, can i open another ISA with an additional 20k for this year?
    Yes, you can open a different ISA of each type every tax year to use your £20k allowance.
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    masonic wrote: »
    Yes, you can open a different ISA of each type every tax year to use your £20k allowance.

    So as an a example if the tax limit remains at 20k, After 5 years one could save 100k worth in isas' and all being Tax free?

    i am new to this and exploring investing into S+S, but given the complexity of using a platform and fund manager and know which funds to invest may be a bit daunting at first
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • masonic
    masonic Posts: 23,278 Forumite
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    csgohan4 wrote: »
    So as an a example if the tax limit remains at 20k, After 5 years one could save 100k worth in isas' and all being Tax free?
    Only if you are able deposit £20k before the end of each tax year. If you haven't used your £20k allowance by the end of the tax year it is lost and isn't carried forward.
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