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Can I open 2 x SS ISA if one is just for transfer in of old ISA?

8 replies

Bedknobbroomsticks · 25/03/2021 06:50

Hi, I know I can open a SS ISA and Cash ISA and spread my allowance across the two. Can I open a second SS ISA if I'm not adding in new ISA money but only to transfer in balance from an old SS ISA?

OP posts:
dementedpixie · 25/03/2021 07:39

Do you mean you want to transfer between providers and the old one will close? That's ok to do

Silkies · 25/03/2021 20:45

Yes that should be fine as long as you don't add to old one this tax year.

Bedknobbroomsticks · 26/03/2021 14:10

Thanks!

@dementedpixie yes exactly that!

OP posts:
Bedknobbroomsticks · 26/03/2021 14:11

To clarify, I already have an SS ISA for this year (opened this tax year). So I'll be opening another one solely to transfer in the balance from a very old ISA.

OP posts:
Wilma55 · 26/03/2021 14:12

I think you have to transfer it in via new provider

dementedpixie · 26/03/2021 14:29

You cant open 2 ISAs of the same type in the same tax year so you couldn't open another S&S one

dementedpixie · 26/03/2021 14:30

Or wait until April and then you'd be in a new tax year

Silkies · 26/03/2021 20:30

Transfers of previous tax years do not count as opening as long as done as transfers, so don't close then open, just transfer and its fine, can do anytime in addition to the one a year can open. But you can't add money to it until a new tax year.

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