If you hold more than one type of ISA, such as a Cash ISA and a Stocks and Shares ISA, you can spread your ISA allowance between them. Or you could put the full £20,000 into one.
From 6 April 2024 it is possible to pay into multiple ISAs (except LISAs) of the same type in the same tax year.
If you have a Stocks and Shares ISA, it can make sense to drip feed payments into your account over the year, rather than making one big payment just before tax year-end (5 April). That way, you ‘flatten out’ the natural rises and falls in the stock market and share values, rather than making a big payment in on a day when the market happens to be lower.
If you’re a married couple, you can put up to £40,000 in ISAs between you. Tax-free.
Be aware.
You can choose how much or little of this £20,000 allowance you want to invest each year but do bear in mind, you can’t ‘carry it over’ to the next year.