S&S isa - what happens in the new tax year

[Nickypig]

In the last year, I opened an account at HSBC (where I hold my current account) so that I could buy £100 worth of funds, here and there whenever I had that spare before payday in an effort to start saving which I'm terrible at.

I have £1,600 in this account spread over different funds but while I know what the allowances are, when the tax year is etc - what do I physically do in the new tax year? Does the bank just know automatically that while I keep contributing and I don't go over the allowance (I definitely won't save £15k this year or next sadly) or do I have to open another totally separate stocks and shares ISA account that is the same?

What action do I need to take! I can't find anything and it must be so obvious!

Usually, you retain the same Cash ISA account and keep going. Even if there's some sort of fixed term restriction and you can't make new deposits, the account wont be closed. The bank knows how much you deposited in the tax year.

not quite clear on the problem - but it is YOUR responsibility not to go over the ISA allowance. The bank doesn't know if you've opened another one elsewhere.

but that doesn't sound like an issue.Keep contributing to the same account - and remember to ensure you aren't paying too much in fund fees.

so you have ONE S&S Isa that has several investments in it

those investments will grow in value

but you can only ADD up to your annual limit to the total investment pot

the fact that the pot will rise in value has nothing to do with your limit - if it falls you cannot add more than your annual allowance

it all goes into the one pot though - same as if you shift your cash ISAs around which everybody should do each year to keep the best rates

Ok - so I'll just carry on as though it's all one account, and it won't be separate. So on my internet banking it won't be a separate amount for 2014/15 tax year - just (hopefully) growing account that is all in together but the bank knows which funds were bought when. I'm not going to go over £15k it's just whether I keep doing what I'm doing or start a new isa specifically separate.

Thank you!