ISA rules

#1

Hi,
I have three stocks & shares ISAs (one of which is with Freetrade). Each of those three accounts were opened in a different tax year. My question is, if I subscribe £1000 to my Freetrade ISA this year (remaining allowance £19,000), does this mean I can’t top up to other stocks and shares ISAs I hold with different providers within the year? Some of the wording suggests this may be the case. Am I right in thinking my stocks and shares ISA allowance can’t be allocated to more than one provider in the same tax year? Thanks

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(Chris) #2

Yes. You’re right to think this

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#3

Note that if you didn’t want to put the remaining £19k into Freetrade, you have the option to put it in another type of ISA, eg cash ISA, LISA, innovative finance ISA, just not another stocks & shares ISA.

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#5

Do you have a cash isa?
You may be able to transfer funds to your stocks and shares from that without breaking the contribution rule.

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#6

I have a nominee stock account elsewhere, but since that isn’t an existing form of ISA I guess a transfer would not be within the rules.

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#7

I’m not sure whether you can also transfer current year’s cash ISA contributions to an inactive, previous year stocks and shares ISA.

There’s probably a rule against this, but I can’t find it…

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