How many ISAs can I have?

In the 2023/24 tax year, if you wanted to, you could open four different types of ISA. You can only pay into one of each type of ISA. So, you couldn’t pay into two Cash ISAs in a single tax year, for example.

You can pay into one of each type of ISA in the 2023/24 tax year:
 

• Cash ISA
• Stocks and Shares ISA
• Lifetime ISA
• Innovative Finance ISA

Yorkshire Building Society only offers Cash ISAs.

You can’t open more than one of each type of ISA in a tax year. So you:
 

You may want to have more than one type of ISA for a different savings goals. For example, you might want an ISA to save for home improvements and one set aside for retirement.
 

The ISA allowance for 2023/24 is £20,000. You can pay £20,000 into ISAs in a single tax year. You can pay £4,000 per tax year into a Lifetime ISA.

You can open:
 

• A Cash ISA from age 16.
• A Stocks & Shares ISA from age 18.
• An Innovative Finance ISA from age 18.

A Lifetime ISA can only be opened between the ages of 18 and 40. You can pay into a Lifetime ISA until you are aged 50.
 

If you have a Cash ISA from a previous tax year, you don’t need to pay into the same one again.

You can open another Cash ISA, as long as you only pay money into one during the tax year. You can’t open a new one and keep saving into your old Cash ISA.

If you have lots of ISAs from previous tax years, you might be able to transfer your ISA. Not all providers will let you transfer an ISA. Make sure that you don’t close the ISA and withdraw the money, or you might lose your tax-free status.