Isas

[alison43331]

Hi

Does anybody know whether you are legally permitted to open more than one ISA for previous Tax Years?

I have a Notice ISA for 2015/ 2016 where I have also transferred a previous Tax Year's ISA. I would also like to open a Fixed Rate for another old Tax Year with the same bank

I have requested this information several times from the bank in question but that still haven't responded. It's so frustrating!!!!

Any advice would be most welcome

[fiction-factory]

You can have two separate ISAs provided you only contribute to one in a single tax year

[ubasses]

You can only open 1 Isa per tax year, but they can be transferred between Banks. However when some Banks are offering higher interest rates they do not always accept transfers in. So it is down to the terms and conditions of the Financial Institution you wish to use.

[fiction-factory]

I don't know what you mean by 'another old tax year' though. Once the tax year has gone, it's gone. You can't say "I didn't contribute to ISAs in 2009/2010, 2010/2011 and 2011/12 so i'll open 3 now to make up for the ones I missed

[dasherman]

There is nothing stopping you from transferring a previous tax years ISA into an existing ISA as transfers don't count as new money. But you can only open or pay new money into 1 cash ISA per tax year.