We’re going to be posting a lot about ISAs before and as we roll out the feature.
But for now I think the essentials to know are:
-
You can open or pay into 1 of each type of ISA a tax year
-
ISA types include cash, stocks and shares and a couple others (Lifetime, innovative finance)
-
You have a total annual limit of £20k to pay into ISA(s) - but you can split that 20k between different types eg 10k into a cash, 10k into a stocks and shares
-
You can have multiple ISAs open and active year-to-year. This means you can have a stocks and shares ISA with one broker and open a second one with another as long as the second one is the first that tax year.