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Original poster

A question about isas

3 replies

EasterRose24 · 10/07/2024 07:03

I have an ISA, with 6p in it. It was opened years ago.
I'm soon going to have a lump sum to invest. Am I allowed to put the full 20k into the old Isa and another 20k into one opened in this financial year? Or is that not allowed under the ISA rules?
Thank you in advance ☺️

OP posts:
Takoneko · 10/07/2024 07:11

EasterRose24 · 10/07/2024 07:03

I have an ISA, with 6p in it. It was opened years ago.
I'm soon going to have a lump sum to invest. Am I allowed to put the full 20k into the old Isa and another 20k into one opened in this financial year? Or is that not allowed under the ISA rules?
Thank you in advance ☺️

Not allowed.

The 20k is what you can deposit in a financial year. If you have more than one ISA then the allowance is split between the different accounts.

Original poster
EasterRose24 · 10/07/2024 07:15

Thank you @Takoneko . That what I needed to know.

OP posts:
LaWench · 10/07/2024 07:18

As above, you can only put in £20k per financial year. If you'd had money in the old ISA from before Apr 24, you can transfer this into your new ISA, if the account allows, not all accounts accept transfers. The rules have changed in that you can now split your £20k into many different ISAs and LISAs in the financial year.

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