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Posted Sun, 17 Dec 2023 18:43:41 GMT by
From April 2024 are you able to open multiple ISA’s each holding £20000 so long as they are all the same type, eg cash, and can they be either with the same bank or different ones. For example three accounts with Bank A each with £20000 and one with Bank B with £20000 but all cash ISA’s
Posted Thu, 21 Dec 2023 14:48:08 GMT by HMRC Admin 25
Hi SJD,
No, the maximum £20,000 is the total amount you can invest in any one tax year no matter the type of ISA(s) held.
you can only open 1 cash ISA each tax year.
Thank you. 


 
Posted Fri, 01 Mar 2024 23:16:12 GMT by neilmorgan
I note that the HMRC reply to the post was around the start of January 2024. Please refer to the GOV/HMRC newsletter dated November 2023 https://www.gov.uk/government/publications/tax-free-savings-newsletter-10/tax-free-savings-newsletter-10-november-2023 "The government announced a package of ISA reforms and will make these changes to ISAs from 6 April 2024:" and "Allow subscriptions to multiple ISAs of the same type, with the exception of Lifetime ISA, within the tax year, removing the limit on subscribing to one ISA of each type per year. All subscriptions must remain within the overall ISA limit of £20,000." Doesn't this mean the HMRC reply is incorrect when the post title clealry refers to April 2024?
Posted Wed, 06 Mar 2024 06:44:10 GMT by HMRC Admin 25
Hi neilmorgan,
Yes. new guidance comes into play on 06/04/24 whereby you can open more than 1 type of ISA and invest in the same tax year.
The limit currently remains at £20,000 in total.
Thank you. 
Posted Sun, 09 Jun 2024 19:51:24 GMT by David Pioner
I have a cash ISA that I opened last year, and I invested £8,000 into it this year after April 6th. Can I transfer my existing ISA to a different provider and invest the rest of my allowance (12k) into the new account? I was wondering whether investing in two different cash ISAs in the same tax year is possible.
Posted Thu, 13 Jun 2024 10:21:04 GMT by HMRC Admin 32 Response
Hi,

As of 6 April 2024, you can now open more than 1 cash ISA each year. the deposit limit is still 20k over how may you have in each tax year.

Thank you.
Posted Thu, 11 Jul 2024 15:02:00 GMT by Sps Singh
Hello. I have a flexible shares and stocks ISA with one provider opened last year and a fixed shares and stocks in another provider. I understand I can contribute to both, limiting myself to 20K. My question is 'does the 20K limit in the flexible ISA reach when the provider tells me its reached, irrespective of the number of times i withdraw the deposit?'
Posted Tue, 16 Jul 2024 15:19:41 GMT by HMRC Admin 10 Response
Hi
The provider are the managers of these accounts, not HMRC, so you need to accept their decision.
Posted Thu, 26 Sep 2024 17:40:14 GMT by Ezequiel Raffo
Hi, I have opened a cash ISA with my bank provider this year after April 6th and invested the maximum personal allowance of £20000. Just today I have opened a lifetime ISA as next month I am turning 40 years old. Can I withdraw £4000 from cash ISA and put this money into my new lifetime? I am not sure if I will exceed d my allowance after withdrawing from my current cash ISA and puting that money into my new lifetime ISA account.
Posted Fri, 04 Oct 2024 14:45:56 GMT by HMRC Admin 25
Hi Ezequiel Raffo,
No, as this is an additpnal deposit and you have already invested your maximum for the tax year.
Thank you. 

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