Do I need to open a new Cash ISA each tax year?

You do not need to open a new cash ISA every tax year. Once the end of the tax year approaches, your existing cash ISA will roll into the next year, where you can take advantage of that year's ISA allowance.

However, if you do not pay any money into your existing ISA during a whole tax year and you then want to pay in more money, you'll need to refresh your ISA. To do this, you'll need to send a secure message from your online banking or call us on +44(0) 3457 212 212 (Call Charges) to refresh your ISA. Lines are open Monday to Friday, 8am to 6pm, and Saturday and Sunday 9am - 5pm.

You may need to make a new declaration if you want to make a deposit in a different tax year.