What happens if you pay into two ISAs?
But only if it’s your first time.
If you do it ‘deliberately or carelessly’ or are a repeat offender, then they’ll demand you pay tax on any interest earned (or give back tax relief on investments if it’s a stocks & shares Isa) on the second account..
How many ISAs can I pay into?
There are four types of ISAs for adults. The total amount you can save in ISAs in the current tax year is £20,000. This is known as the ISA allowance. You can only put money into one cash ISA and/or one stocks and shares ISA and/or one lifetime ISA and/or one innovative finance ISA in each tax year.
Can I split my ISA allowance between 2 providers?
You can move ALL of this to another cash ISA, or into a stocks & shares ISA. You can’t split it between more than one provider. Current year’s stocks & shares ISA.
Can I pay into a cash ISA and a stocks and shares ISA in the same year?
Yes, you can as long as they’re different types, meaning it’s possible to pay into a Cash ISA and a Stocks and Shares ISA in the same tax year.