Can I have more than one ISA?
Yes, you can have more than one ISA. In fact, there’s no limit on the number of ISAs you can own.
But do bear in mind that you can only pay into one Lifetime ISA each tax year. There’s also a limit on the total amount of money you can put into your ISAs annually. At the moment, it’s £20,000. That’s called your annual allowance.
And remember that, although there’s no legal limit on how many ISAs you can own, some providers might limit how many you can take out.
Can I have two stocks and shares ISAs?
Yes, you can have two stocks and shares ISAs. Again, you can own as many as you want. But you still have to bear your £20,000 annual allowance in mind when you’re paying into them.
Can I open an ISA every year?
Yes, you can open one or more ISAs every year, at any time.
Can I open an ISA after 5 April?
You can open an ISA at any time - the date doesn’t affect that.
The date does affect how much you can pay into it. 5 April is the end of the old tax year, with the new one starting on 6 April. That’s when your annual allowance of £20,000 resets. If you’ve used it all up in one year, you’ll have to wait until 6 April to start your ISA payments again.
How much can I open an ISA with?
How much you can open an ISA with depends on your provider. Each will have their own minimum amount. For example, you can open our Stocks and Shares ISA with a regular payment of just £20 a month or a £100 lump sum.
When can I open an ISA for 2026 to 2027?
You can open a new ISA for the tax year 2026 to 2027 from 6 April 2026. That new tax year will then run until 5 April 2027. You can open an ISA for that year at any time during that year. Just don’t go over your £20,000 annual allowance!
Can I open an ISA for someone else?
You can open an ISA for someone else if you:
- have Power of Attorney for them and can act on their financial behalf
- are the parent or guardian of a child under 18 and want to open a Junior ISA for them
If you open a Junior ISA on behalf of a child, you can put up to £9,000 a year into it. The money legally belongs to them, but they can’t access it until they turn 18. And any money you put into it is not included in your annual allowance.
Frequently asked questions
Yes, if they’re under 18. Parents or guardians can open Junior ISAs on their child’s behalf. They can then pay up to £9,000 a year into that ISA. The money legally belongs to the child, but they can’t access it until they turn 18. Any money a parent or guardian puts into it is not included in their annual allowance.
You can’t open an ISA if you’re not a UK resident.
If you already have an ISA and move abroad, you can keep it open but you can’t pay any more money into it. Any interest or earnings will still be tax-free in the UK, but perhaps won’t be in the country you’ve moved to. You may also need to tell your provider that you’re no longer a UK resident.
Opening an ISA doesn’t involve borrowing money and doesn’t usually need a credit check. So having bad credit shouldn’t affect whether you can open one. It shouldn’t affect your credit score. You will probably need to provide identification to open it.
You must be 18 or over to open these kinds of ISA:
- Cash ISA
- Stocks and shares ISA
- Innovative finance ISA
You must be between 18 and 40 to open a Lifetime ISA.
You must be 18 or over and the parent or guardian of a child to open a Junior ISA for them. The child has to be under 18. A child can open a Junior ISA for themself when they’re 16 or 17. Any money that goes into the ISA belongs to the child, but they can’t access it until they’re 18.
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