Two Isa Accounts

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 1.1K views
brookerbabyisababybrookerbabyisababy Forumite
375 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
If I open two ISA accounts and put £3600 in one of them but nothing in the other - is it possible to get in trouble for having two accounts even though one is unused.

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  • OblivionOblivion Forumite
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    If I open two ISA accounts and put £3600 in one of them but nothing in the other - is it possible to get in trouble for having two accounts even though one is unused.

    No, you won't get into trouble for doing that.

    Dave.
    ... Dave
    Happily retired and enjoying my 14th year of leisure
    I am cleverly disguised as a responsible adult.
    Bring me sunshine in your smile
  • MikeyorksMikeyorks Forumite
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    No ..... but it's not usual for a provider to open an account if it's not going to be funded either directly or by transfer. An 'empty' ISA isn't an ISA, it will just be voided?
    If you want to test the depth of the water .........don't use both feet !
  • Paul_HerringPaul_Herring Forumite
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    An 'open ISA' (as far as HMRC are concerned) is an account that is open and has contributions for the current tax year in it.

    Since one of your accounts doesn't fit this criteria, you are safe.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • Yes I have maxed one of them with £3600 this year and opened another for transfer purposes. The one that I have recently opened tells me that I can add £3600 this year - but I won't deposit a penny. You guys really reassured me. Thanks.
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