Shares ISA

[Amber0685]

Can you own more than one? Is the combined limit £20k? Thank you

You can only have one shares isa in each tax year.

Total isa limit is £20K this year and can be split across different types of isa so could do £10K in cash isa and £10K in shares isa for example.

You can only use one platform for your shares ISA for the year but within that you can buy shares in different funds or companies. So before you set it up check that the platform you want to use offers the funds you want.

Thanks.

if you get that far, try to keep the amount with each provider below £50k. There's obviously no compensation for falls in share value, but that's the limit if the provider goes bust with your money.

you can have as many ISAs as you like subject to the yearly limits detailed above.

I thought the limit was £85k per provider. Has that now reduced?

no, this is something different. The 85k per provider is for cash savings. This is for investments - shares. As mentioned, no protection against fall in value.

I did not know that, I thought it was £85k for shares ISAs too. Thanks for the information!