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Where Taxpayers and Advisers Meet

ISA or JISA Rules

Posts: 62
Joined: Wed Oct 11, 2017 1:53 pm

ISA or JISA Rules

Postby Jason123456 » Sun Feb 23, 2020 8:30 pm

Can the annual allowance be used with half to purchase equity investments from one platform and the other half to purchase from a different platform,......not exceeding the annual allowance in total?

Posts: 28
Joined: Tue Feb 27, 2018 8:34 pm

Re: ISA or JISA Rules

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.

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