ISA Account after ISA Tax Year

What happens to my ISA account after a tax year ends?

For example, I have £3000 invested in a 2019/2020 ISA. What happens after April 2020, in the new tax year?

If I decide not to invest in 2020/2021, do I still need to pay £3 a month to hold my 2019/2020 shares in an ISA?

  1. investment continues. Your 3k will still be invested until you choose to take it out/change holdings
  2. nothing. your ISA allowance to invest resets - you can invest up to 20k in the tax year
  3. yes

To clarify. If I have a 2019/20 ISA (£3 per month), then continue in 2020/21 …

  1. Do I end up with two separate ISA accounts?
  2. Do I pay £3 per month for each year (eg £6) or just £3 in total?

1 ISA account.

£3 a month for the account.

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Thanks so much Richard.

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