Joint ISA + A Personal One?

dannymccann

Hi all,

We have a Joint ISA (set up officially with both my name and the wife as holders) this tax year.

What's the deal with setting up our own personal ISA's should we manage to fill that one and have extra to save? Because we have 'both' subscribed to an ISA this year will we be breaking the rules setting up a personal one each or.....?

Not sure how it works, struggle to find specific documentation on this issue

Thanks

innovate

Afraid, there must be a misunderstanding. ISAs cannot be in joint names. You should check again what kind of joint account you have.

All the ISA rules are on the HMRC website. There is also a FAQ which you might find of use. http://www.hmrc.gov.uk/isa/faqs.htm#4

PeacefulWaters

dannymccann wrote: »

We have a Joint ISA (set up officially with both my name and the wife as holders) this tax year.

ISA stands for "individual savings account". You do not have a joint ISA.

dannymccann

Wow, can't believe I overlooked that!

Thanks for clearing up