Postby ben_power » Tue Mar 31, 2020 11:11 pm
ISA rules used to be split into a cash ISA allowance and a separate stock & shares ISA allowance but not anymore.
The rules now stipulate we each have an ISA allowance of £20,000, we can split that however we choose between cash and investments. You can however only utilise 1 cash provider and 1 investment provider in each tax year so for example:
I could put £20,000 into a cash ISA with the Nationwide or £20,000 into a Stocks & Shares ISA with Fidelity or £10,000 each. What you can't do is have 2 Cash ISA providers or 2 Stocks & Shares ISA providers in the same year. This means I couldn't have £10,000 in a Nationwide Cash ISA and £10,000 in a Lloyds Cash ISA just like I couldn't put £10,000 in Fidelity Stocks & Shares ISA and £10,000 into a Hargreaves Lansdown Stocks & Shares ISA.