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Which ISA transactions are permitted, and which are not?
You are permitted to subscribe to one of each type of ISA per tax year, as long as your total contributions across all ISA types do not exceed the annual ISA allowance.
For Example:
An individual contributes £15,000 into a Stocks and Shares ISA, £3,000 to a Cash ISA, and £2,000 to a Lifetime ISA. Since only one of each ISA type was used, ths is allowed.
On the other hand, you cannot subscribe to more than one ISA of the same type in the same tax year.
For example:
If an individual contributes £10,000 into one Stocks and Shares ISA, £2,000 into a second Stocks and Shares ISA, and £8,000 into a Cash ISA, this is not allowed because they subscribed to two Stocks and Shares ISAs in the same tax year, even though the total is within the allowance.
