Can I open more than one cash ISA in the same year?

27 February 2023

Question by Stephen

Can I open more than 1 cash ISA in the same year? E.g., open a 1 year termed cash ISA in May with Coventry BS and then later in July open another cash ISA with Virgin and so on (as interest rate changes).

Answered by Chris Broome

Hi Stephen,

A great question to ask.

You can have as many ISAs as you like, so long as you meet the eligibility criteria for each type.

However, you are only allowed to pay into one of 'each' type of ISA in a single tax year - so one Cash, one Lifetime, and one Stocks and Shares.

You also can't pay in more than your annual ISA allowance overall.

I hope this answer helps.

If you need to know anything just let me know.

Kind regards

Chris Broome.

Answered by

Chris Broome

Chartered Financial Planner

My name is Chris Broome and I own a wonderful fixed-fee and independent financial planning practice called Longhurst.