How many ISAs can you have?

Find out the rules about having multiple ISAs, from how many you are allowed to have, how much you can invest in them and how to ensure you don’t lose the tax-free savings you’ve already built up.

Click below for more details on the Fidelity Stocks and Shares ISA including what you can invest in, costs and how to get further help.

Video transcript - How many ISAs can you have?

How many ISAs can you have each tax year? You can invest in one Cash ISA and one Stocks & Shares ISA the same tax year, as long as the total you invest between them doesn’t exceed the annual ISA allowance.  You don’t need to hold these ISAs with the same provider either - you’re free to pick and choose the best ones for you.

However, you can’t invest in the same type of ISA account more than once in the same tax year. So if you already have a stocks and shares ISA you cannot open another one until the next tax year. If you find a more competitive ISA with another provider, you need to transfer your current ISA over to that new provider or you’ll lose the tax-free benefits. 

You don’t need to transfer ISAs from previous tax years, but you might want to if you find a more competitive deal, or if you want to make it easier to manage your ISAs by consolidating them into one. Check whether there will be any charges for doing so, before you transfer your ISAs, and also follow the ISA provider’s transfer process so you don’t lose the tax-free benefits that you only get on money held within an ISA.