How many ISAs can I have?
Since April 2024 you can pay into as many ISAs as you like in a tax year, including several of the same type, as long as you stay within your total £20,000 allowance.
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The rules
- Total across all ISAs: £20,000 a year.
- You can open and pay into more than one cash ISA, stocks and shares ISA, or Innovative Finance ISA in the same year.
- You can still only pay into one Lifetime ISA a year, and your Lifetime ISA payments count towards the £20,000.
- You can hold ISAs with different providers, but check each one accepts transfers and multiple subscriptions.
- You can transfer old ISA money to a new provider without using up this year's allowance, if you use the official transfer process.
Why have more than one?
People often split money between a cash ISA for emergencies, a stocks and shares ISA for the long term and a Lifetime ISA for a first home or retirement. Having several lets you move to a better rate without giving up the tax-free wrapper.
Sources and further reading
Questions people ask
Can I open a new ISA every year?
Yes. Each tax year you get a new allowance and you can open new ISAs or add to existing ones, within the £20,000 limit.
Results are estimates for information only, not financial advice. Read the full disclaimer.
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