In the UK ISAs are protected from tax, both income and capital gains, and they can be transferred between investments.
During the current tax year (2017/8) investments are capped at 20k a year.
A prudent choice would be to diversify these investments, however I don't know if there is a way to split an ISA transfer between different investments once made.
I'm asking because say I have a cash ISA with 40k. But wish to invest it now in two IFISA with peer to peer lenders to diversify the risk, one investing in business and the other in personal loans?