Answers · UK 2025/26
Can I have two ISAs in the same tax year?
From 6 April 2024, you can open and pay into multiple ISAs of the same type in one tax year, as long as your total contributions across all ISAs stay within the £20,000 annual allowance. Previously you could only subscribe to one ISA of each type per year.
Full answer
The rule change announced in the Spring Budget 2024 (effective 6 April 2024) allows UK adults aged 18 or over to open and contribute to multiple ISAs of the same type in a single tax year. Before this change, you could only subscribe to one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA, and one Lifetime ISA per tax year. **What has changed:** - You can now open and contribute to multiple Cash ISAs (or multiple Stocks and Shares ISAs) in the same tax year. - The total contribution limit across all ISAs remains £20,000 for 2026/27 — no change there. - This gives savers flexibility to split money between providers, take advantage of better rates, or keep funds with separate FSCS-protected institutions (£85,000 per authorised firm). **What has not changed:** - **Lifetime ISA (LISA):** You can still only open/contribute to one LISA per tax year. - **Junior ISA (JISA):** Children can hold one Cash JISA and one Stocks and Shares JISA, but only one of each — the total JISA limit is £9,000 per year. - **The £20,000 total:** All ISA contributions (across all providers and types) count toward the single £20,000 allowance. **Example:** You could put £10,000 into a Cash ISA with bank A (for a good fixed-rate deal) and £10,000 into a Stocks and Shares ISA with platform B in the same 2026/27 tax year — previously this would not have been allowed under the "one ISA per type per year" rule without transferring.
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This answer is informational only and does not constitute financial, tax or legal advice. Figures are for the 2025/26 UK tax year. See our methodology and sources.