Too much money... :p

delmontebanana

I wish!

But in all seriousness, I have topped up my mini ISA with £2800 since April and will need to put in another £500 end of this month, but the max is at £3000 per financial year right?

Should I open up a new mini ISA to put my money in?
Can I open another mini ISA with the same bank or will it have to be with a different bank?
What happens if I go over £3000 in the same mini ISA?

Sowwie for all the questions

greenface

sorry but with 250+ posts you dont read much
sorry to offend but just read any hints tips and rules that this forum gives

debbie42

delmontebanana wrote: »

I have topped up my mini ISA with £2800 since April and will need to put in another £500 end of this month, but the max is at £3000 per financial year right?

Should I open up a new mini ISA to put my money in?
Can I open another mini ISA with the same bank or will it have to be with a different bank?
What happens if I go over £3000 in the same mini ISA?

It's now £3600 p.a. If you have contributed already since April then you can't open another unless you transfer the existing one.

Paul_Herring

delmontebanana wrote: »

But in all seriousness, I have topped up my mini ISA with £2800 since April and will need to put in another £500 end of this month, but the max is at £3000 per financial year right?

£3600 per tax year from April 6th (just gone) this year.

Should I open up a new mini ISA to put my money in?

The £3600 is per person per year, not per institution per year.

Can I open another mini ISA with the same bank or will it have to be with a different bank?

You can only contribute to one ISA per year, and if you want to change which institution is paying you interest, you must move all 'this tax year's' contributions to that institution.

Previous years may be split between institutions as you wish, however you cannot add more to those accounts unless 'this tax year's' contributions are in that 'same account.'

'This year's' contributions join the previous years' pot on April 6th.

What happens if I go over [STRIKE]£3000[/STRIKE]£3600 in the same mini ISA?

(my edit) Deliberately? You get in trouble with HMRC. At a minimum, the excess is removed from the ISA.

delmontebanana

greenface wrote: »

sorry but with 250+ posts you dont read much
sorry to offend but just read any hints tips and rules that this forum gives

That took you all of 1 minute to write, you could have answered my questions in that space of time.

Thanks to all others who gave me a straight forward answer.

Snaggles

greenface wrote: »

sorry but with 250+ posts you dont read much
sorry to offend but just read any hints tips and rules that this forum gives

Including this one?

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

dunstonh

MINI/MAXI rules dont exist any more either.