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Posted Thu, 26 Oct 2023 09:37:26 GMT by
Hi, I'm now managing my mothers accounts through LPA and wish to move one CASH ISA to a better interest rate with the same company (closing the old account). She hasn't used her £20K entitlement this tax year and so I would also like to open another CASH ISA with a better rate, to maximise her savings. I don't want to add the funds to the other account as it will exceed the £85K FSCS. I will not be adding new funds to the first new account, just moving the current funds across. So is this allowed? Thanks in advance.
Posted Mon, 30 Oct 2023 15:54:15 GMT by HMRC Admin 19
Hi,

You can transfer your Individual Savings Account (ISA) from one provider to another at any time. You can transfer your savings to a different type of ISA or to the same type of ISA.

If you want to transfer money you have invested in an ISA during the current year, you must transfer all of it.

For money you invested in previous years, you can choose to transfer all or part of your savings.

Thank you.
Posted Fri, 03 Nov 2023 22:18:11 GMT by
Thanks for that. Another question, I've now found an inheritance cash isa transferred from my father to my mothers name when he died 4 years ago. I assume this is now considered a normal cash isa and can be moved into the 2nd new cash isa account with the £20k (if this new account also allows transfers)? Hopefully I don't need to open a 3rd cash isa specifically for transferring cash inheritance isas?
Posted Wed, 08 Nov 2023 17:47:22 GMT by HMRC Admin 25
Hi Trevor Baker,
No,you cannot open two cash ISas in the same tax year.
You can have more than one cash ISA, provided they were opened in different tax years.
Thank you. 
 
Posted Tue, 19 Dec 2023 14:07:43 GMT by Tinno64
Hi I opened a cash isa in October without adding any funds, its investment window has now closed. I have now received an inheritance and would like to know if I can open another cash isa and place funds in this
Posted Fri, 22 Dec 2023 14:47:50 GMT by HMRC Admin 25
Hi Tinno64,
As no payments have been made, yes, you can only subscribe to 1cash ISA per tax year.
Thank you. 
Posted Sat, 17 Feb 2024 19:29:14 GMT by
Good evening. Is it allowed to open two Cash ISAs on the same year, where one of them is credited with up to the £20.000 subscription, and the other one with transfers from another ISA account? Kind rgards.
Posted Sat, 06 Apr 2024 14:24:30 GMT by John Knight
Can I have two cash isas in the 2024/5 tax year?
Posted Sun, 07 Apr 2024 08:25:47 GMT by Charlotte
Hi. I opened an instant cash isa a few years ago. I am now looking at opening a cash isa to help buy a property. Would I be able open one and transfer money into both simultaneously?
Posted Wed, 17 Apr 2024 06:32:57 GMT by HMRC Admin 25
Hi John Knight,
Please have a look at the guidance here:
Individual Savings Accounts (ISAs)
Thank you. 
 
Posted Wed, 17 Apr 2024 08:10:34 GMT by HMRC Admin 32
Hi Charlotte,

Please have a look at the guidance on ISAs at:

Individual Savings Accounts (ISAs)

Thank you.

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