Can I subscribe to two existing ISAs (of different types)?

[raybarrow]

Hi Folks,

It's ISA time. I have two existing ISAs pre 2022/23. One stocks and shares and one cash. I haven't put any new money into them this tax year 2022/23. Can I put money into both e.g. £10,000 in each or can I only put money into one of them this tax year? They both will let me put money in.

Cheers,
Ray.

Moderator Message:
Edited subject to avoid confusion (chas49)

[XFool]

I have two existing ISAs pre 2022/23. One stocks and shares and one cash. I haven't put any new money into them this tax year 2022/23. Can I put money into both e.g. £10,000 in each...

Yes.

Although this would not be a "transfer", it would be a "subscription".

[raybarrow]

Hi Xfool,

Oooops! I meant new money, from my savings, so subscription, not a transfer.

Ray.

[Tortoise1000]

'Putting money into an ISA

Every tax year you can put money into one of each kind of ISA. The tax year runs from 6 April to 5 April.

You can save up to £20,000 in one type of account or split the allowance across some or all of the other types.

You can only pay £4,000 into your Lifetime ISA in a tax year.

Example
You could save £15,000 in a cash ISA, £2,000 in a stocks and shares ISA and £3,000 in an innovative finance ISA in one tax year.

Example
You could save £11,000 in a cash ISA, £2,000 in a stocks and shares ISA, £3,000 in an innovative finance ISA and £4,000 in a Lifetime ISA in one tax year.'

https://www.gov.uk/individual-savings-a ... -isas-work

T

[raybarrow]

Hi T,
Very informative. I understand on death ISAs can be transferred to a spouse, subject to a few condition. I also see that I can transfer money from a Cash ISA to a Stocks and Shares ISA.
Can I transfer money from a Stocks and Shares ISA to a Cash ISA. Obviously I would have to sell shares to produce cash, and I can't think of a good reason to do it in my circumstances, but could I do it theory?


Ray.

[Gersemi]

Hi T,
Very informative. I understand on death ISAs can be transferred to a spouse, subject to a few condition. I also see that I can transfer money from a Cash ISA to a Stocks and Shares ISA.
Can I transfer money from a Stocks and Shares ISA to a Cash ISA. Obviously I would have to sell shares to produce cash, and I can't think of a good reason to do it in my circumstances, but could I do it theory?


Ray.

Yes
https://www.gov.uk/individual-savings-a ... g-your-isa

You used to only be able to do cash to stocks and shares, but the rules were changed in July 2014 to allow the reverse as well

https://www.which.co.uk/money/investing ... 4Lm5N025E9

[raybarrow]

Hi Folks,

You used to only be able to do cash to stocks and shares, but the rules were changed in July 2014 to allow the reverse as well

Thanks for that, I wasn't aware transfers could go in both directions.
Ray.