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Posted Wed, 05 Apr 2023 15:51:42 GMT by SCambridge
Hi all, I have a help to buy ISA that I've contributed £1000 into this tax year (22/23). I recently opened a cash ISA at the end of March and paid £10,000 into this also. I have just learned that that these are classed as the same type of ISA (Cash ISA). Am i correct here? and have i accidentally paid into two cash ISAs in the same year? I am still well with in my ISA limit of £20,000. Thank you
Posted Fri, 14 Apr 2023 12:15:49 GMT by HMRC Admin 19

There are 4 types of ISA. You can put money into one of each kind and the total from all ISA's cannot exceed £20000 each year. You can see guidance here:

Individual Savings Accounts (ISAs)

Thank you.
Posted Thu, 21 Sep 2023 09:24:48 GMT by Stan C
Hi, I have some questions about Cash ISA: 1. If I put £20,000 in a Two Year Fixed Rate Cash ISA account on 30-Mar-2022 (the two years term is fixed by the bank). Does that means I have already used up the £20,000 quota for both 2021/22 and 2022/23 tax years ? Or just 2021/22 ? 2. Assume I keep that account to the end of the period until 29-Mar-2024, I can just cacel that Cash ISA account and take out all the deposit and interest tax free ? Thank you.
Posted Tue, 26 Sep 2023 13:14:39 GMT by HMRC Admin 17

It will be 21/22 only as this is when the payment was put in.

The fixed term is only in relation to the interest rate applied  .

Thank you.
Posted Sun, 19 Nov 2023 16:02:49 GMT by Md80
Hi, I have a query about the rules on Cash ISAs. I opened a new Cash ISA in this financial year and transferred a previous ISA into it. As it’s a fixed rate ISA, however, I haven’t been subsequently been able to pay in any new contributions (i.e. there was a window for contributions which has now closed). As I therefore haven’t made any new contributions into a Cash ISA so far this financial year, can I now open another Cash ISA and pay into that (and retain my existing, fixed rate ISA), or does having opened my existing ISA (even if I haven’t then made any new contributions into it) mean that I can’t open another Cash ISA in this financial year? Thank you
Posted Wed, 22 Nov 2023 14:16:56 GMT by HMRC Admin 25
Hi Md80,
You cannot open two Cash ISA in the same year, you will now need to wait until next year.
Thank you. 

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