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I was just reading that (in the UK) you can only pay into one of your owned ISAs per year.

I have a Help To Buy ISA and a separate Stocks & Shares ISA. I pay the maximum contribution of £200 into my Help To Buy ISA each month.

Given these rolling payments, when can I pay into my other ISA? And by extension, a new ISA?

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You can only pay into one ISA of the same type in a (tax) year. Otherwise it's fairly flexible on how you divide your contribution, keeping to the overall limit (£20 000 in 2018-19).

There is no bar making contributions to a Help to Buy and Stocks and Shares ISA in one year. It is, however, treated as a cash ISA, so you can't have another one of those.

https://www.helptobuy.gov.uk/help-to-buy-isa/faq/#de8e24ea-e1f7-648f-8ce9-ff0000ad17aa

The help to buy ISA is also unusual in that: you can have only one of them, you have to drop feed money into it monthly, and it persists from year to year.

  • Right, that makes sense. Just to clarify, are you saying that I can only ever have 1 instance of a specific ISA ever? E.g.: I can't open a cash ISA this year and then a new one next year and then another one the following year etc...? (ignoring ISA wrappers) – turnip Jun 19 '18 at 11:22
  • @Petar No, it's normally by tax year but the Help to Buy ISA is the odd one out. You can pay the full £20 000 into a stocks and shares ISA on the last day of the tax year, and £20 000 the next into another stocks and shares ISA with a different provider. Obviously you'ld want to be very careful with deadlines if you were rash enough to attempt this. – richardb Jun 19 '18 at 22:07

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