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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.
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.)
Check out the best investment platforms to find the best one for you.
interactive investor have a great option where the experts manage the investments for you, called a managed ISA. You'll benefit from their very low fees, and easy to use platform (website and app), while having the experts look after your ISA, planning for great investment performance over time.
You can get set up in a few minutes online and they'll match you with the right investment plan for you. And that's it.
interactive investor are very well established and part of the huge financial company aberdeen. It's also has excellent customer service (and over the phone).
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)
Nuts About Money rating: 5 stars
Fees: low
Minimum deposit: £25
Get up to £1,000 cashback
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.
Free welcome bonus from £20 to £100. Promo code NUTS.
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).
Check out the best investment platforms to find the best one for you.
Check out the best investment platforms to find the best one for you.
Get £100 free trades
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.
Get fractional shares worth up to £100
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).
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
• 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
• No personal pension (SIPP)
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.
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!
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).
The idea is that these investments will hopefully increase in value so you can make a profit and grow your savings. Kerching!
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.
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.
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).
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).
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.
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.
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.
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!
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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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We're experts in all things investing, with many years of combined experience writing and talking about investing and trading. Some of our team were top financial advisors. We understand and love helping people learn more about both short term trading and investing for the long term – investing can be a great way to grow your money over time.
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Check out the best investment platforms to find the best one for you.