Zisis Kostakakis
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Question about ISA for current opened accounts and new laws of 24/25 for multiple ISA support
Hello, I am new to the laws of having multiple ISAs etc, from my understanding you can have a single ISA per type i.e (LISA, stocks/shares ISA) account that can be created each year. But can only contribute to one of it. So here's my situation that I am trying to untangle Got a Stocks/Shares ISA that I created on September 2022 that I have been investing from September 2022 up to March 2024 I have just opened a secondary ISA that also allows single stock buys and conducted a mandatory deposit of a 1£ while following the tutorial for setting up the ISA. I have not buy/sell any on the new ISA account other than the 1£ that went in. First, I would like to know if there's any action that need to be conducted as I am not sure if depositing money in a secondary ISA counts as contributing to it? Second, with the new regulations that are coming in place for 24/25 ISA for multiple subscriptions on the same type of ISA, does that mean I would be able to contribute on my two currently opened stocks/shares ISA accounts without having to worry about being on the wrong? Should I close the newly opened account and reopen it after the tax year resets and contribute to it then? Thanks in advance for your time and help! Regards