IG for a Stocks & Shares ISA?

[1nvest]

1invest: Thanks for that summary. I was not aware that you could have more than one ISA account across providers. I thought only one was allowed, but this new information raises a lot of possibility. I recently initiated a transfer from HL to IG. I could have let that stay there and have opened another one with IG. Interesting.

1invest: Thanks for that summary. I was not aware that you could have more than one ISA account across providers. I thought only one was allowed, but this new information raises a lot of possibility. I recently initiated a transfer from HL to IG. I could have let that stay there and have opened another one with IG. Interesting.

I don't think 1nvest is correct.
You can have as many ISA's as you want, but you can only pay into 1 of them per tax year.

You are right, the rule is that you can have multiple stocks & shares ISAs but you can only contribute to one of them in the same tax year. If you wanted to split a year's allowance between different accounts the others would have to be a cash ISA, an innovative finance ISA or a lifetime ISA.

Ironjaw, it does seem as though i have this wrong.
looking at HMRC's website, you can have multiple types..ie a cash isa, a stocks and shares isa or you could just have one..so long as the amount doesn't go above the limit for the year
however, and as the others have mentioned HMRC states you can only pay into 1 of each kind in that tax year.

ExampleYou could save £15,000 in a cash ISA, £2,000 in a stocks and shares ISA and £3,000 in an innovative finance ISA in one tax year.
ExampleYou could save £11,000 in a cash ISA, £2,000 in a stocks and shares ISA, £3,000 in an innovative finance ISA and £4,000 in a Lifetime ISA in one tax year.

I was wrong in being able to pay into multiple share isas, with different providers, in the same year
reading HMRCs more carefully, you could open an IG, open a vanguard In the same year, but you could only pay into one of these in that year, next year you could transfer your amount from vanguard into IG, and then contribute into the IG in that tax year as a transfer doesn't count towards the annual contribution
sorry to give you false hope, and thanks to others for putting me right!

 

[ironjaw]

No worries, and no reason to apologies. We are all learning