I opened an ISA for 2020/21 with a different platform, and I intended to open my 2021/22 ISA with Freetrade. I’ve been eagerly waiting for today (the first day of the 2021/22 tax year). I went to the app to open an ISA, and it wants me to accept this:
I apply to subscribe to a stocks and shares ISA for the tax year 2020/21 and each subsequent year until further notice.
If I go ahead and confirm, am I opening an ISA for 2020/21, or for 2021/22?
What does “each subsequent tax year” means? Does it mean that when 2022/23 starts, Freetrade will automatically open another ISA for me, without my request and without me depositing any money? I don’t understand everything about ISA; I only know you can only open one ISA account per year, and deposit up to 20k. My understanding from reading this statement is that when 2022/23 starts, Freetrade will open another ISA for me and I won’t be able to open one anywhere else - which is probably an incorrect interpretation, but I’d like clarification before I go ahead with this.