Can I have more than one Cash ISA in a single tax year?

You cannot fund more than one Cash ISA in the same tax year. If you have already opened a Cash ISA in this tax year with another provider, then you cannot open and fund a new Cash ISA with Shawbrook unless:

  • The total balance of your current tax year Cash ISA is being transferred across to Shawbrook Bank
  • Your existing Cash ISA account is closed

However, please be aware you can hold a Stocks and Shares ISA as well as a Cash ISA in the same tax year and split your total annual ISA allowance across both up to a combined limit of £20,000 in the 2020/2021 tax year. This means if you currently hold a stocks and shares ISA in this tax year, but do not hold a Cash ISA, you can open and fund a Shawbrook Cash ISA.