Frequently asked questions
You can only pay into one Stocks and Shares ISA each tax year. But, you can open a different type of ISA , such as a Cash ISA. Just remember to stay within the yearly tax-free ISA allowance. This is £20,000 for the 2023/24 tax year.
An ISA can be a great way to start investing in stocks and shares. But there are other ways to invest too. A trading account or Share Dealing Account gives you access to a wide range of funds, investment trusts and ETFs. There's no investment limit. Or, a Self Invested Personal Pension (SIPP) can be a tax-friendly way to invest for retirement.
No, you don’t need to put all your money into an ISA. You might want a savings account for short-term needs or in case of an emergency. Then, you could invest money you don’t need right away in a Stocks and Shares ISA.
You can invest in a Stocks and Shares ISA at any time – so long as you’re at least 18 years old. If you’re coming to the end of a tax year, you may want to invest and make the most of your remaining ISA allowance.