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    dj2006
    What happens if I go over my allownace?
    • #1
    • 23rd Apr 09, 10:00 AM
    What happens if I go over my allownace? 23rd Apr 09 at 10:00 AM
    Early on last (tax) year I put 1300 into an existing ISA, later on I then opened a new ISA & put the remaining 2300 in. In a subsequent conversation with someone from the new ISA company they said I still had the remaining 1300 to go, so thinking maybe I'd made the mistake I put it in. But then checking my records I find I was right & I've actually gone over for that year. So what's going to happen? Will they suss eventually? Will they just return the money? Or will it just sit there not attracting any interest, or will I have to pay tax on any interest for that money?

    Hmmm...
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