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E3.305 ISA—qualifying individuals

Only an individual who is a qualifying individual may invest in an ISA account other than a Junior ISA account¹.

From 6 April 2024 a qualifying individual is an individual who is aged 18 or over. Before 6 April 2024 a qualifying individual is an individual who was, in the case of a cash account, aged 16 or over and in the case of a stocks and shares account or innovative finance account, aged 18 or over². Transitional provisions provide that individuals aged 16 or 17 at 6 April 2024 will still be able to open and subscribe to a cash ISA³.

From 6 April 2024 an individual may subscribe to more than one ISA account of the same type in a tax year⁴.

Before 6 April 2024 individual could only subscribe to a single ISA of a particular type in any year. Therefore, where an individual subscribed to a stocks and shares account, he or she must not subscribe to any other stocks and shares accounts