ISAs- can I have multiple accounts with different providers?

[steveo3002]

next tax year , can i have say 10k in a Barlcays isa and 10k at Lloyds or wherever as long as the total is under 20k per year?

[Hill92]

Yes, the rules are changing in April to allow multiple ISAs of the same type to be opened and funded in the same year. The overall subscription limit remains £20k.

https://moneytothemasses.com/news/the-isa-changes-...

Currently you can open a S&S ISA and a Cash ISA in the same year (as long as the total amount deposited is less than £20k) but not two S&S ISAs or two Cash ISAs.

[steveo3002]

yeah thats what i had in mind s&s for a smaller amount to have a dabble at first , then the rest in a fixed rate one elsewhere

[bogie]

You can have as many providers as you wish, but you can only pay into one of each type in any given tax year e.g. cash or shares ISA up to the total £20k allowance.

[xeny]

steveo3002 said:

yeah thats what i had in mind s&s for a smaller amount to have a dabble at first , then the rest in a fixed rate one elsewhere

That's fine - even under the current rules you are allowed to fund a S&S ISA and a cash ISA in the same tax year, just restricted to £20K in total.

[steveo3002]

xeny said:

That's fine - even under the current rules you are allowed to fund a S&S ISA and a cash ISA in the same tax year, just restricted to £20K in total.

okay great ..so what does the new rules offer over that ?

[Hill92]

steveo3002 said:

xeny said:

That's fine - even under the current rules you are allowed to fund a S&S ISA and a cash ISA in the same tax year, just restricted to £20K in total.

okay great ..so what does the new rules offer over that ?

You would be allowed to subscribe to 2+ S&S ISAs (or 2 Cash ISAs etc). For example if you wanted to use different investment platforms for different types of investments, whether due to platform charges for different types of investment or to access investments only available through particular platforms.