How many ISAs a year?

Hello everybody hope your all doing well please just wanted to know how many ISAs can you open in a tax year in your own name of course ? Thanks

The limitation is that you can contribute to only one of each type in a tax year. You could, e.g. open one, contribute to it, and open another and move the original one into the second, but you would not be able to contribute directly to the second one until the next tax year.

Just to be more specific this needs to be an ISA transfer

I’m sure the Innovative Finance product was a good idea at the time, but the take-up nowadays must be negligible.

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You’ll be lucky to even get 1% interest these days. Cash isa’s are just a complete waste of time when inflation is well over 2% probably closer to 4% now


Thanks Misspony I get the cash and the s/s ones wha’ts the other two ( Lifetime and IF ) ? can you explain thanks

When I opened my hsbc cash ISA it was 6.5%, special rate as it was a special new internet one. Now its not even 0.65% :disappointed_relieved:


Not just peer to peer lending, IF ISAs are also used for a number of specialised bond services (energies Africa and triodos come to mind) and other investment options which don’t fall under normal accounts like capital rise who invest in property

I opened a LISA (+ISA) for my daughter last year at nutmeg
Recently i asked nutmeg if I can hold LISA with them and ISA (balance of 20K per year) with another provider and they said Yes
So I guess you can have a general ISA +LISA(max 4000£) total below the 20K limit

Thank you everybody and bye for now

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Call me pedantic, but that’s not actually making a distinction - you have to have opened the ISA to be able to contribute to it, and they’re fixed to a year even if your provider (as any sane one would) displays them all rolled into one as ‘your ISA’.

It would be annoying to see 123 $ACME shares in ‘ISA 2019/20’ and another 456 $ACME shares in ‘ISA 2020/21’, but that is ‘the case’, how they record it, and legally etc. how it works.

Yes, but you could open more than one in a year. E.g. in late March you set up a second, so it would be ready to go on 6th April. Or you set one up, find a better deal and set a new one up to transfer the first one into. Many people will have several on the go at any one time. They may have set up more than one in any individual year. And yes, each one will not refer to individual years. But they may only contribute to one of each type in any individual year.

Okay thanks for that info

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