What happens if you put too much in?

birkee

Forum_User wrote: »

Other than Santander, none that I can remember. So it MAY just be them. I believe as someone described, for one of the others, it may have been that they already had it from when I opened my current account.

Santander doesn't have any of my details. Not even my address, let alone NI number. And yes, I do have an ISA with them that I put money into.

This is one confused person.

"Santander doesn't have ANY of my details.
"They may have had it (address) from when I opened my current account".

Alias_Omega

I have paid into an E-ISA and an Cash ISA this tax year, looking at it i may have paid in well over the £5100.

Even so that i transferred the £5100 from the Cash ISA, to the E-ISA, then ive paid in extra into the Cash ISA to the sum of £2000.

It wont let me pay in anymore, tells me that i have reached my limit. Something weird going on here, maybe i just dont understand it all.

jem16

Forum_User wrote: »

Well, I've got plenty of ISAs. And none of the providers asked for NI numbers.
Santander didn't even ask for proof of address!

Forum_User wrote: »

Other than Santander, none that I can remember. So it MAY just be them. I believe as someone described, for one of the others, it may have been that they already had it from when I opened my current account.

birkee wrote: »

This is one confused person.

Certainly is.

jicms

Forum_User wrote: »

As I said I have some ISAs, each bank wouldn't know what you've put in the others ones so they wouldn't be able to stop you. So you could by accident accidentally put too much in them in total! This is what I want to avoid! Would the inland revenue get angry about it? Would you get tax?

Nationwide were able to tell me that I had already used my allowance for the year and named the bank.

This was very useful as the bank in question couldn't find out if the balance was just transferred in money or included this year's allowance!

p00hsticks

Forum_User wrote: »

Lets clear a few things up to show I am NOT confuseD:

SANTANDER

In my opinion, anyone who voluntarily gets any form of financial product with Santander has to be at least a little deranged!

And having read some of the horror stories about their incompetance , I'd be perfectly willing to believe they could manage to open an account without either an address or an NI number. I'd jsut be concerned that they didn't lose your money as well

michaels

I got a letter from the revenue saying I had paid into 2 isas last year - I knew I hadn't but had transferred in to 1 and then transferred and paid in to a second. I contacted the providers who confirmed this then contacted hmrc who said:
'Was one of the providers Halifax? They have c**ked this up for everyone, we will delete the record'

The sad thing is the original letter had simply stated 'you have made a mistake and funded two isas, you don't need to take any action but don't do it again' - had I but known you could get away with it I would definitely have funded two isas in one year but now I have been flagged - even though it was incorrect - I don't think I would get away with it again...