cancelling a ISA dealing account

londoner2k

HI, I tried to open an account with Selftrade today but I found it very confusing to use. Is there a way to cancel the account? Will I be charged for closing the account? There is no money in it as yet. I later tried to open a Barclays ISA share dealing acount which was easier and i have put money in it too. I was later reading somewhere that I cant have two accounts of this type. Would someone tell me what I need to do to close the Selftrade account at a minimal cost. Much appreciated thanks in advance

agsnu

You have violated HMRC rules by opening two at the same time. I would suggest contacting HMRC.

Blah99

Call HMRC on 0845 604 1701 and ask them, although I think you'll be fine because the law is that you can't *invest* in 2 ISAs in the same tax year rather than not opening them (small distinction, but...). HMRC deal with this mistake all the time, if you have paid into both they will simply tell you they will treat one as a normal taxable account.

londoner2k

thank you your help, i called the number you gave and the lady said that its ok, leave it as it is and continue using the barclays one. hope it helps anyone else in the future that makes a similar mistake.