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Original poster

Stocks & Shares ISA

14 replies

DrManhattan · 17/08/2022 11:53

Hey all

Anyone know what happens to my stocks and shares ISA at the end of the year. Its with Natwest and I can't find the info on their site

OP posts:
Caterina99 · 17/08/2022 17:36

I’m not sure I understand what you mean - but nothing happens to it.

It continues to remain as an investment within the tax free isa wrapper until you close it. You can usually transfer it to another ISA or sell off parts of it if you want

nannynick · 17/08/2022 17:58

Technically an ISA is used in yearly chunks, but the reality for an end user is that you just have one account which you can pay up to £20k to each tax year.

So nothing happens at the end of the tax year, it continues. You don't need to open another ISA to pay in, you just continue adding to your existing one.

Original poster
DrManhattan · 17/08/2022 19:05

@nannynick
Thank you for your reply. I wasn't sure if I kept paying into the existing one or I have to create a new one (at the end of the Financial year)

OP posts:
Chewbecca · 17/08/2022 19:06

Nothing happens except you get a new £20k allowance. You can only pay into one per year.

Original poster
DrManhattan · 17/08/2022 19:07

@Caterina99
Thank you for your reply.
I think I have been thinking about it too much!

OP posts:
Caterina99 · 17/08/2022 19:35

You can definitely pay into the same one again in the next financial year.

or you can open a new one if you like, but the old one will still remain as it is

Caterina99 · 17/08/2022 19:37

Also - you can pay into more than one per year if you wish, you just can’t exceed your 20k allowance per year across all your ISAs

Chewbecca · 17/08/2022 20:39

Caterina99 · 17/08/2022 19:37

Also - you can pay into more than one per year if you wish, you just can’t exceed your 20k allowance per year across all your ISAs

Are you certain? HSBC told me I could not and a quick Google suggests that is the norm?

Chewbecca · 17/08/2022 20:41

E.g. Moneyhelper

You can only pay into one stocks and shares ISA in each tax year, but you can open a new ISA with a different provider each year if you want to. You don’t have to use the same provider for your cash ISA if you have one.

nannynick · 17/08/2022 21:02

You can pay in to different types in the same tax year. So you can pay in to a Cash Lifetime ISA, a Cash ISA and a S&S ISA all in the same year, as long as the total does not exceed £20k.

Chewbecca · 17/08/2022 21:03

You can only pay into one S&S ISA per tax year though, right?

Original poster
DrManhattan · 17/08/2022 22:05

Thanks all 😀

OP posts:
Caterina99 · 18/08/2022 18:09

Chewbecca · 17/08/2022 21:03

You can only pay into one S&S ISA per tax year though, right?

I’ve looked it up on the hmrc website and you are correct.

You can split your allowance across different ISAs such as S&S, cash, LISA, but you can only pay into one of each type per year

I had no idea! I suppose it’s not that common for people to want to pay into different ones of the same type in the same year anyway

Chewbecca · 18/08/2022 18:52

Always good to learn something new!

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