How many ISAs can I have?

An ISA (Individual Savings Account) is a tax-free savings or investment account that gives you the opportunity to save or invest a certain amount of money every year, without having to pay tax on any growth in your investments or savings. There are 4 types of adult ISA available (stocks & shares ISA, cash ISA, innovative finance ISA , and lifetime ISA).  The interest on cash accumulates on a tax-free basis, as does income and capital gains made on investments…

Tax year runs from 6 April to the following 5 April. Each tax year’s ISA subscription limit is specific to that year and can be checked on the HMRC website. 

For the 2023/24 tax year the annual ISA allowance is £20,000 per person. Any of the ISA allowance that goes unused in the current tax year cannot be rolled over to the subsequent tax year. You can divide this cash allowance across multiple ISAs, provided that not more than 1 of each type of ISA is subscribed to in any given tax year…

The only ISA account type that IBKR offers is a non flexible stocks & shares ISA account. That means you can take money out, but it'll count towards your annual ISA allowance if you pay it back in the same tax year.

ISA flexibility refers to whether you’re able to withdraw from your ISA without affecting your annual allowance. A flexible stocks and shares ISA allows the individual to withdraw funds from their stocks and shares ISA and put them back into it, within the same tax year, without affecting their annual ISA allowance…

Tax year runs from 6 April to the following 5 April. Each tax year’s Junior ISA subscription limit is specific to that year and can be checked on the HMRC website.   …