You can only have one Stocks & Share ISA account with InvestEngine- but within that account, you can create and manage multiple ISA portfolios.
This gives you the flexibility to separate different goals or strategies while staying within your annual ISA allowance.
ISA account vs ISA portfolios
Here’s how it works at InvestEngine:
- Your ISA account is the overall tax wrapper that protects your investments from income and capital gains tax
- Your ISA portfolios are the individual investment portfolios you create inside that account
For example, you might have:
- A DIY portfolio where you choose and manage your own ETFs
- A Managed portfolio where we do the investing for you
- An ISA Cash portfolio, where you temporarily hold uninvested funds
- A LifePlan portfolio designed around a specific long-term goal
All of these sit within your single ISA account and contribute toward your £20,000 annual ISA allowance.
What if I want another ISA?
From April 2024, ISA rules have changed. You can now hold more than one Stocks & Shares ISA in the same tax year- with different providers, which you may want to do to try out different styles of investing.
So you could:
- Open an ISA with InvestEngine
- Also open another Stocks & Shares ISA elsewhere (e.g. with a robo-adviser or individual shares platform)
Just remember- your total contributions across all providers must not exceed £20,000 in the current tax year.
Learn more about your ISA allowance here.
Key points to remember
- You can only have one ISA account with InvestEngine
- Within that account, you can open as many ISA portfolios as you like
- We track your ISA allowance and usage for InvestEngine, but you must keep track of any additional accounts subscriptions made elsewhere
Want help managing your portfolios? Read more here.