Stocks and Shares ISA

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#1

Has anyone found this info on Isa website.

If you open stocks and shares ISA 20k per annum.

But if one individual opens ISA in 2015 with one provider
ISA 2016 another
ISA 2017 another

Then its 20000/3 that he can use during each fiscal year?

#2

Can you elaborate further? I don’t fully understand

#3

Putting money into an ISA
Every tax year you can put money into one of each kind of ISA. The tax year runs from 6 April to 5 April.

You can save up to £20,000 in one type of account or split the allowance across some or all of the other types.

You can only pay £4,000 into your Lifetime ISA in a tax year.

Example
You could save £15,000 in a cash ISA, £2,000 in a stocks and shares ISA and £3,000 in an innovative finance ISA in one tax year.

Example
You could save £11,000 in a cash ISA, £2,000 in a stocks and shares ISA, £3,000 in an innovative finance ISA and £4,000 in a Lifetime ISA in one tax year.

Your ISAs will not close when the tax year finishes. You’ll keep your savings on a tax-free basis for as long as you keep the money in your ISA accounts.

So if u have 2 stocks and shares ISA in the same year is that OK?

#4

@cavanhagan

Found the answer after a bit of digging but not on gov uk…

How Many ISAs from Previous Years?

Notice that you can open an ISA with a different provider of the same type each tax year. That means that you could have up to twenty ISAs of the same type e.g. stocks and shares ISAs which have accumulated over the years. This can become unwieldy if you have to log in to several websites and use several passwords. Some people choose to transfer old ISAs into a single account for this reason. Just to illustrate how complicated this could get here’s an extreme example.

Example Stocks & Shares ISA History

Provider A ISA Provider B ISA Provider C ISA Provider D ISA
1999 £7000 2004 £7000 2009 £7200 2014 £15000
2000 £7000 2005 £7000 2010 £10200 2015 £15240
2001 £7000 2006 £7000 2011 £10680 2016 £15240
2002 £7000 2007 £7000 2012 £11280 2017 £20000
2003 £7000 2008 £7200 2013 £11520 2018 £20000

In the example above we’ve switched ISA provider every 5 years so that over the 20 year history of ISAs we have accumulated 5 different providers. But in theory you could have chosen a different provider each year and have 20 ISAs!

#5

You can have 2 stocks and share ISAs ‘open’ in one tax year, but you can only deposit into one each tax year, not both

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