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What are the new ISA rules applicable from 6 April 2024?

The government announced a package of ISA reforms applicable from 6 April 2024, the changes relevant to Mustard’s Innovative Finance ISA are listed below:

  • Allow subscriptions to multiple ISAs of the same type, with the exception of Lifetime ISA, within the tax year, removing the limit on subscribing to one ISA of each type per year. All subscriptions must remain within the overall ISA limit of £20,000.
  • Remove the requirement for an investor to make a fresh ISA application where an existing ISA account has received no subscription in the previous tax year.
  • Allow partial transfers of current year ISA subscriptions between ISA managers.

You can find more information on gov.uk.