ISA Rules - Allowance per year

[worsy]

My IFA advised me with regard a Stocks ISA this year, I paid in 3 months of money before realising the platform charges were over and above my usual vehicle so in a fit of rage cancelled the ISA and took a refund. In the process binning the IFA from any commission.

Sadly I think I can't now use my allowance this year, is that correct. Or is it possible to open a cash ISA and maybe convert it next year?

[ringram]

You can open as many as you like, but you are limited to the max contribution PA. So if you only paid in 3 months worth of equal contribs then you can open another one and pay the other 9 months in no problem.

[cuprabob]

For year 2009/10 you can hold £5,100 in Cash ISA and £5,100 in Stocks ISA therefore or £10,200 in Stocks. If you didn't go over the £5,100 limit with the Stocks you can still open a Cash ISA and put in £5,100 this year, before April 6th

[worsy]

Thanks both......off to open a new ISA