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Innovative Finance ISA (IF ISA)
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How many ISAs can I have and how much can I put in?
How many ISAs can I have and how much can I put in?

Rules about the different types of ISAs you can open and how much cash you can invest in them

Updated over a week ago

Can I have more than one ISA?

Yes, you can have more than one ISA, including multiple ISAs of different types.

Can I have more than one IF ISA?

Yes, you can have more than one IF ISA, including open more than one IF ISA in the same tax year.

(You could previously only open one of each type of ISA each tax year. However from the 2024/2025 tax year (so as of 6 April 2024), you can now open as man ISAs of the same type as you like, provided you don't exceed your annual ISA allowance of £20,000.)

What is the ISA allowance? 

You can subscribe £20,000 into all of your ISAs combined in the current tax year. You can put your whole allowance into a particular type of ISA or you can split it up between multiple ISAs. You can subscribe money to your Abundance IF ISA by instant bank payment or bank transfer.

Can I transfer my existing ISAs?

If you have already built up tax free savings in another ISA you can transfer some or all of these funds to an IF ISA, no matter how big the pot. This allows you to diversify your ISA portfolio while keeping the tax free benefit. See our Help Centre article on Transferring ISAs for more information.

Please remember, holding your investments in an IFISA does not reduce the risk of the investment or protect you from losses, so you can still lose all your money. It only means that any potential gains from your investment will be tax free. The tax treatment of your investment will depend on your individual circumstances and may change in the future.

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