Isa how many

This article is part of a series that answers all your questions on ISAs. Here we look at how many ISAs you can have. Published on 15 April Find out more. Download for free. Investing What is a flexible ISA? Read more. Recent articles. They also help us understand how people use our websites so we can make improvements. Marketing cookies On. These cookies help us decide which products, service and offers might be of interest to you.

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How many ISA accounts can I have? Risk warning The value of your investments can go down as well as up and you may get back less than you paid in. Laws and tax rules may change in the future.

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This Isa allowance is unchanged from If you don't use your annual Isa allowance before the end of each tax year, you'll lose it - and it will start anew on 6 April.

If you want to skip this and go straight to some of the best cash Isa rates on the market, head to Which? Money Compare. If you're saving up to buy property, there is also the Help to Buy Isa and, for those aged , the lifetime Isa. All UK residents aged 16 or over can have a cash Isa, although you must be 18 before you can open a stocks and shares Isa.

Crown employees serving overseas or individuals married to such employees are also eligible to open Isas. Isa rules aren't just about how much you pay in; some accounts are flexible, meaning that you can withdraw money from an Isa account and replace it, without the replacement counting further towards your Isa allowance.

If you put it back in the next year, it will count towards your new annual allowance. You can withdraw money from this account, and - as long as you put it back before the end of the current tax year, and replace exactly the same amount - it won't go towards your current tax year Isa allowance. You can make a withdrawal from this account, and as long as you replace it by the end of the current tax year, it won't count towards the current year's Isa allowance.

Withdrawals you make in this case are firstly taken from whatever money you've deposited in the current tax year. If you withdraw more than you've deposited in the current tax year, then it will be taken from money you've deposited in previous tax years. When you come to pay the money back in - which, again, you must do before the end of the current tax year - this works the other way around; money you deposit is first used to refill cash Isas from previous years, and then your cash Isa from the current tax year.

This flexibility is not compulsory and isn't available on all Isas, so you should always check with your provider before withdrawing any money. If your Isa isn't flexible, it means that any cash you withdraw loses its tax-free status as soon as it leaves the Isa 'wrapper' account , and even just paying the cash back into the account would count further towards your Isa limit.

It's worth noting that fixed-rate cash Isas require you to keep your money in the account for a certain period of time, so you may face a penalty if you access the money early.

There's no specific limit for how many Isas you can hold overall - but you can only pay into one type of each Isa in each tax year we explain this more fully below.