Multible Stocks and Shares ISA Allowed 2024

Hi, I was going to ask a question thinking I might of made a mistake opening two stocks and shares isas of the same type but it seems since the 6th of April 2024 you can have as many as you want as long as you stay in the 20k limit.

So just putting this on encase anyone new or old didn’t know.

If there was a topic on this please merge.

Thanks.

There is an important proviso: this rule is not mandatory and depends entirely on the ISA provider. Meaning it is allowed but not forced on to the ISA provider.

So you should clarify with your ISA providers whether they accept opening the same type of ISA account that you have opened elsewhere in the financial year. You may be subject to what is known as a repair charge if you do this when the provider doesn’t officially allow it. Point is the provider needs to have done the appropriate paperwork with HMRC.

For certain, several banks don’t allow this with their cash ISAs. They may do later but they don’t do it at the moment. One possible way to deal with this is to use the Hargreaves Lansdown ‘active savings’ account - basically a “pick and mix” solution to cash ISAs.

2 Likes

Thank you for the information. I will look into this :slight_smile: