Nutty

Can you have more than one Stocks & Shares ISA?

Christopher Dowling
Christopher Dowling
Editor-in-Chief
Updated
February 17, 2025

In a nutshell

Yes! You can have multiple Stocks & Shares ISAs. You can open as many as you like, and pay into them all each year too (previously you were limited to one per year).

A Stocks & Shares ISA can be a great way of saving for the future and growing your money at the same time. So, you might be wondering if you can have 2 – or even 3 or 4 – Stocks & Shares ISAs!

Well, the good news is that you can have as many as you want, and you can pay into as many as you like each year too.

Previously, you could only pay into one per tax year (April 6th to April 5th the following year), but this rule has now been scrapped (since April 2024). And the choice is all yours!

The only rule you need to be aware of is the ISA allowance, which is where you can only save as much as £20,000 per tax year. Which applies as a total to all of your ISAs.

ISA allowance

Before you head off, is your ISA working hard for you? Is it with the best Stocks and Shares ISA?

We’ve reviewed all the top ISAs to determine the best options to put your hard earned cash. And here they are: (both expert-managed and self-managed ISAs.)

Want a stocks and shares ISA?

Check out the best investment platforms to find the best one for you.

Best investment platformsBest investment platforms

Best expert-managed Stocks and Shares ISAs

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Best managed ISA
interactive investor rated 5 stars

interactive investor

interactive investor have a great option where the experts manage the investments for you (called a managed ISA), where you can also benefit from their low fixed monthly fee, and easy to use platform (website and app). They'll match you with the right investment plan in just a few minutes, all online.

interactive investor are very well established and part of the huge financial company abrdn. It's also has excellent customer service (and over the phone).

Learn more

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ii offers a range of account types to suit your financial goals, including an ISA (which can be self-managed or managed by their experts for the same fee), a Trading Account, and a three-time Which? Recommended Personal Pension (SIPP). 

Their plans start from £4.99 a month, with a range of unique benefits as you move to higher-priced plans (such as free accounts for your friends and family). There’s also useful analytical tools, which are embedded in the platform, and are great for in-depth insight into the markets, helping to make smarter investment decisions.

Trades typically cost from £3.99 per investment (buying or selling), although regular investing monthly is free. Other fees apply too, depending on what you’re investing in.

If you’ve got a larger portfolio, ii’s flat fee makes investing very low cost. And if you’re just starting out, it’s still low cost overall, but the monthly fee will be a higher proportion of your investments while you’re building up your portfolio.

The UK-based customer service team is excellent and award-winning, with both online and phone available (which is very rare these days).

Overall, we think ii is great, and definitely worth checking out to see if it’s right for you.

Best for: experienced investors with a growing portfolio (benefit from the flat fee)

Pros

  • Well established (since 1995)
  • Very popular with over 430K customers
  • An award-winning investment platform
  • Easy to use platform (and mobile app)
  • Flat monthly fee (so can be very low cost)
  • No share dealing fee for regular investments
  • Great value for larger portfolios
  • Huge range of investment options
  • Excellent customer service
  • Low minimum investment (£25)

Cons

  • Can be expensive for small portfolios who trade a lot
  • High foreign exchange fee (1.5%)
  • Not much else!

Nuts About Money rating: 5 stars
‍Fees:
low
‍Minimum deposit: £25

Capital at risk. As investment values can go down as well as up, you may not get back all the money you invest. If you’re unsure if an investment account is right for you, please speak to an authorised financial adviser. This communication isn’t a personal recommendation. Tax treatment depends on your individual circumstances and may be subject to change in the future.

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Get up to £1,000 cashback

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Expert advice
Moneyfarm rated 5 stars

Moneyfarm

Moneyfarm is a great option for saving and investing (both ISAs and pensions). It's easy to use and their experts can help you with any questions or guidance you need.

They have one of the top performing investment records, and great socially responsible investing options too. Plus, you can save cash and get a high interest rate.

The fees are low, and reduce as you save more. Plus, the customer service is outstanding.

Learn more

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Pros

  • Great for beginners and hands-off investors
  • Easy to use
  • ISA
  • Pension
  • Free personal investment advisor
  • Great track record for growing money
  • Socially responsible options
  • Invest cash for a high return

Cons

  • Have to invest at least £500
  • Not much else!

T&Cs apply. Capital at risk.

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Free welcome bonus from £20 to £100. Promo code NUTS.

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Cheapest
InvestEngine rated 5 stars

InvestEngine

InvestEngine offers a very low cost way to manage your savings - and their experts handle everything. It's just 0.25% per year (account fee).

The track record is great, and you can manage everything on your mobile (if you want to).

There's a low minimum investment of £100, and you'll be able to save and invest within a tax-free Stocks & Shares ISA too, so your money can grow faster.

You can also make your own investments alongside, and all for free (ETFs only).

Learn more

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Capital at risk. T&Cs apply.

Want a stocks and shares ISA?

Check out the best investment platforms to find the best one for you.

Best investment platformsBest investment platforms

Best self-managed Stocks and Shares ISAs

Want a stocks and shares ISA?

Check out the best investment platforms to find the best one for you.

Best investment platformsBest investment platforms
Offer icon

Get £100 free trades

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Large investments
Interactive Investor rated 5 stars

Interactive Investor

Interactive Investor is a popular investment platform with a flat fee, making it a cheap option if you have a larger portfolio of investments. There’s a huge range to choose from, their website and apps are great and their customer service is excellent.

Note: there's an additional fee of £30 per month for company accounts.

Learn more

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Capital at risk. T&Cs apply.

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Get fractional shares worth up to £100

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Best ISA
Trading 212 rated 5 stars

Trading 212

Trading 212 is a platform built for everyone in mind – there's over 2,000,000 customers! It’s great for beginners to get started, and perfect for experienced traders looking for more advanced trading options, such as CFDs, meaning you can trade with leverage (borrowed money), and trade the price going down (go short). There's all the trading tools you’ll need too, such as stop-loss and limit orders.

It’s one of the cheapest platforms out there with low fees when buying foreign stocks (currency conversion fee).

Learn more

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Platform experience: good
Device options:
website & phone app
Support:
24/7
Stocks & Shares ISA:
yes
Pension (SIPP):
no
Range of investments:
large
Stocks:
yes
ETFs:
yes
Fractional shares:
yes
Crypto:
no
CFDs:
yes
Forex: no
Account fee:
free
Cost per trade:
free
Spread fees:
yes (low)
Currency conversion fee:
0.15% on stocks, 0.50% on CFDs

Pros

• Low cost trading
• Huge range of investment options
• Hold and trade in multiple currencies
• Very low foreign exchange fees (0.15%)
• Offers an ISA
• Offers CFD trading (alongside regular investing)
• Great mobile app
• Lots of resources to learn
• Awesome customer service
• No minimum investment
• Fractional shares

Cons

• No personal pension (SIPP)

Promo code NUTS. Terms apply. Not investment advice. Investments can rise and fall, and your capital is at risk.

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Best traditional
AJ Bell rated 5 stars

AJ Bell

AJ Bell is well established, with a good reputation.

It's one of the cheapest traditional stock brokers out there (charging a low annual fee).

There's a huge range of investment options – pretty much every investment out there (including both funds and shares).

The customer service is great too.

Overall, it's one of the best options.

Learn more

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What is a Stocks and Shares ISA?

In case you’re not sure, a stocks and shares ISA is a pretty awesome savings account that helps you save and grow your money tax-free. Woohoo!

ISA (Individual Savings Account)

Let’s rewind a little bit. When you get a stocks and shares ISA, any money you put in it will get invested.

In other words, your money will be used to buy investments, which can include stocks and shares (which represent part of the ownership of a company), and lots of other types of investments, such as investment funds (groups of lots of investments pooled together and typically managed by an expert).

Stocks and Shares

The idea is that these investments will hopefully increase in value so you can make a profit and grow your savings. Kerching!

Stocks and Shares ISA

You can decide if you want the experts to manage your investments and your ISA, or if you want to make your own investments. You’ll typically need a different ISA provider for each option – but you can do both if you want to.

Nuts About Money tip: if you’re new to investing, it’s often a good idea to simply leave it to the experts – they know what they’re doing and will typically invest sensibly to grow your money over time.

To put it plainly, a Stocks and Shares ISA is a really good way to save for the future, which we should all be doing more of.

How many Stocks and Shares ISAs can I have?

You can have as many Stocks and Shares ISAs as you like. You can open them whenever you like, and pay into lots of different ones too within the same tax year too.

Can you have more than one Stocks & Shares ISA?

Before April 2024, you could open and save into one Stocks and Shares ISA per tax year. You could have multiple Stocks and Shares ISAs, but you had to wait until the next tax year in order to open a new one, and then couldn’t save any more cash into your old one (but they could still both exist).

You could have another type of ISA alongside your Stocks and Shares ISA, such as a Cash ISA (to save cash in return for interest), or a Lifetime ISA (to save for your first home).

Lifetime ISA

Now, the reins are off, and you can go wild and have as many ISAs as you like. Although there is just one rule, you can only save into one Lifetime ISA each tax year.

Oh, and you can only save up to £20,000 per tax year (called your annual ISA allowance), across all of your ISAs (and only £4,000 into a Lifetime ISA).

Can you pay into more than one Stocks and Shares ISA each year?

Yep, in case you missed that just now, you can pay into as many Stocks and Shares ISAs as you like at the same time.

Why would you want more than one Stocks and Shares ISA?

If you wanted to, you could have an ISA managed by the experts, for growing your savings over the long term, and then a self-managed ISA to make your own investments alongside.

Expert-managed Stocks and Shares ISA

Or, you could even have two ISAs managed by the experts to spread your money across different providers and experts.

Maybe, you might come across a great new provider, but you’re not quite sure about them just yet, so want to add a little bit of your savings and see how it goes.

The choice is all yours!

Don’t forget, you can also transfer your ISA to a new provider too… Don’t withdraw your money from one ISA and put it into another ISA, as that will use up your ISA allowance (the £20,000), so you might not be able as much in as you’d like in future.

Let’s recap

There we have it – you can open and save into as many Stocks and Shares ISAs as you like.

Previously, you were only allowed to save into one each tax year, but the ISA rules have now changed to give you lots more freedom with your savings, and choose as many ISA providers as you like.

It makes sense to us, and means you have lots more control over your savings and where your money is, and how you like to invest…

For instance, you can have an ISA for your ‘sensible’ savings, with experts who know what they’re doing, aiming to grow your money over time. To see our recommendations again, scroll up or click best expert-managed Stocks and Shares ISA.

And, if you want to make your own investments, get a self-managed ISA, where you might take on a bit more risk and invest in companies that you like. Our recommendations can be seen by scrolling up to the top or clicking best self-managed Stocks and Shares ISAs.

The only rule is you can’t save more than £20,000 in total across all your ISAs.

Happy saving and investing!

Want a stocks and shares ISA?

Check out the best investment platforms to find the best one for you.

Best investment platformsBest investment platforms
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Written by

Christopher Dowling
Christopher Dowling
Editor-in-Chief

Christopher Dowling combines a communications degree with over 10 years experience in the financial services industry in London – with focus on educating people on a wide range of money topics in an easy to understand way. He writes about savings, investing, pensions, mortgages, insurance, banking, loans, business finance and other money topics.

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