Help: I think 2 ISAs have been opened

Mikeyorks

In which case, as long as they accept it's their problem, there should be no problem resolving it. I don't think this is a repair they even have to obtain HMRC permission for.

aqueoushumour01

well went into the the bank today, and I was told that I can open up and pay in as much as I want into each as long as I don't go over the ISA limit as long as the ISA is with the same institution. I hope this is right. Maybe I should ring them up and ask for a second opinion

Mikeyorks

aqueoushumour01 wrote: »

as long as the ISA is with the same institution.

Depends.

If, from your view you have separate accounts - but they've merged them at their level and are treating them as a single entity ...... then you're 50% of OK. The other 50% assurance comes when they report to HMRC after April - if they report a single account then you're not going to have problems. Provided .... that your Cash Isa remains at £3600 or less. And the combined S&S ISAs don't exceed (£7200 minus £Cash ISA)

If you intend to contact them again .... a question on how they will be reporting would be most relevant. Personally I would make a note of the time / date + basic conversation from today's visit and then forget it. If you remain below the overall £7200 threshold then it should still all be repairable in the unlikely event HMRC ask questions. In all exampled cases where invalid combinations of ISAs are involved (HMRC guidance notes) .... they're with separate Institutions.