3

I was wondering if that is possible because I am about to open a Cash ISA and I also want to invest in stocks this year.

5

Yes, you can. You can only open or pay into one of each given type of ISA in a given year (eg one cash ISA and one stocks and shares ISA; NOT two cash ISAs).

The government has a good overview of ISAs here

And there is also an ISA helpline

Call HMRC for help with general enquiries about Individual Savings Accounts (ISAs).

Telephone:
0300 200 3300

Opening times:
Monday to Friday: 8am to 8pm
Saturday: 8am to 4pm
Sunday: 9am to 5pm

4

The answer from Vicky misses an important point.

Yes you can open one of each type, BUT.....

The ISA limit is total and applies across all.

Also note that there's nothing stopping you moving money around within the ISA wrappers (e.g. you can open Cash now and then move cash from the Cash to S&S later). Moving cash within the wrapper does not count towards the annual limit.

(and its actually more than two types these days Vicky, there's the LISA and IFISA too).

  • 1
    Fair point about the total limit - I had intended to include that and forgot to mention it! I would edit it into my answer now and mark as community wiki except then you would not get the credit for this part of the answer, so I've upvoted your answer instead. – Vicky Jun 3 '18 at 20:12
  • Also I know there are more than two types - I didn't say otherwise. I was just giving one example of how they could be combined using the products the OP had asked about. – Vicky Jun 3 '18 at 20:13

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