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    • walidjumblat
    • By walidjumblat 13th Mar 18, 1:03 PM
    • 2Posts
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    walidjumblat
    Can I contunue to use previous years ISA account ?
    • #1
    • 13th Mar 18, 1:03 PM
    Can I contunue to use previous years ISA account ? 13th Mar 18 at 1:03 PM
    Hello, I have read and understand the ISA rules that I have accessed. Including the 20K yearly allowance and that it can be distributed amongst various types of ISAs. But its still not clear to me if , in the next tax year, I can continue to pay into the ISA account that I opened this year. As an extreme ( simple example ) could I open a stocks and shares ISA in this year and then just pay 20K a year into it every tax year. Or do I need to open a seperate ISA each year ?
Page 1
    • eskbanker
    • By eskbanker 13th Mar 18, 1:31 PM
    • 7,167 Posts
    • 7,617 Thanks
    eskbanker
    • #2
    • 13th Mar 18, 1:31 PM
    • #2
    • 13th Mar 18, 1:31 PM
    You can simply keep paying into the same one, there's no need to restart with another just because it's a new tax year with a new annual allowance.
    • walidjumblat
    • By walidjumblat 13th Mar 18, 5:26 PM
    • 2 Posts
    • 2 Thanks
    walidjumblat
    • #3
    • 13th Mar 18, 5:26 PM
    • #3
    • 13th Mar 18, 5:26 PM
    Thanks ... so just to clarify after say 5 years I could have 100K saved in a single ISA account if I I put my yearly ISA allowance into the same account ?
    • jimjames
    • By jimjames 13th Mar 18, 5:30 PM
    • 12,589 Posts
    • 11,240 Thanks
    jimjames
    • #4
    • 13th Mar 18, 5:30 PM
    • #4
    • 13th Mar 18, 5:30 PM
    Thanks ... so just to clarify after say 5 years I could have 100K saved in a single ISA account if I I put my yearly ISA allowance into the same account ?
    Originally posted by walidjumblat
    Yes. It should even be much higher than that as you'd expect the investments to grow too. There are S&S ISA millionaires who have done very well from their investments when the money added to the ISA is probably under 200k
    Remember the saying: if it looks too good to be true it almost certainly is.
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