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Can't add a new stocks and shares ISA


Sunomo

Question

Hello - I have a stocks and shares ISA with IG for tax year 2019/2020.  I wanted to open a new stocks and shares ISA with IG for the new tax year which has just started (2020/2021).  However, whenever I go to Add Account and click on ISA, it gives me the following error message:  "You've reached the maximum number of self-managed stocks and shares ISAs you can have with IG".

Is it that I can only ever have one stocks and shares ISA per provider?  I understand I can only open one stocks and shares ISA per tax year, but why can't I open a new one in a different tax year with IG if I already have one in a previous year with IG?  If I wanted to open a stocks and shares ISA every tax year to take advantage of the allowance, is it that I have to use a different provider each and every time?  That seems a bit ridiculous.

Any info would be greatly appreciated!

Thanks,

Ian.

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On 10/04/2020 at 08:43, Sunomo said:

Hello - I have a stocks and shares ISA with IG for tax year 2019/2020.  I wanted to open a new stocks and shares ISA with IG for the new tax year which has just started (2020/2021).  However, whenever I go to Add Account and click on ISA, it gives me the following error message:  "You've reached the maximum number of self-managed stocks and shares ISAs you can have with IG".

Is it that I can only ever have one stocks and shares ISA per provider?  I understand I can only open one stocks and shares ISA per tax year, but why can't I open a new one in a different tax year with IG if I already have one in a previous year with IG?  If I wanted to open a stocks and shares ISA every tax year to take advantage of the allowance, is it that I have to use a different provider each and every time?  That seems a bit ridiculous.

Any info would be greatly appreciated!

Thanks,

Ian.

Thanks for your post. 

If you have not funded this tax year IG will not prevent you opening/ funding your IG ISA account. Apologies if there was a delay that was confusing. 

Traders can have different tax year with different providers you just can't split the allowance over two providers for the same year. 
 
All the best.
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Yes Sunomo, I am in the same position of having opened an Stocks & Shares ISA with IG in the 2019/20 tax year and then have had the same blocking message when trying to open another with them in this new tax year of 2020/21.  Regret that I don`t really understand Charlotte`s kind response - do you?   My best quess is that only one such ISA can  ever be held with any one provider so am having to start from scratch researching outside of IG for a new account.

Appreciated that you asked this question.  Good luck.

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Guest Jay

Sorry the answer took over a year! The answer is to fund your account opened in a previous year and i will count for this years allowance.

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