I accidentally opened a second ISA, now have to contact HM Revenue?

jimjames

It's not been mentioned yet but are you sure a cash ISA is the right account for you for the amounts listed?

enthusiasticsaver

To be honest I think it is pretty much irrelevant as cash isas are not worth saving in anyway. Close them both and open either a regular saver account or a current account which pays a reasonable rate of interest. Nationwide is still doing 5% on up to £2500 for one year at the moment. If you don't want the bother of paying in £1000 every month go for Tescos at 3% with no hoops to jump through. Both of those will pay more interest than a cash isa and with the new personal savings allowance you wont have to declare for tax unless interest goes over £1k per year for basic rate taxpayer.

bigfreddiel

Cash ISAs right now are a waste of time.

Sadly most people don't have a clue about equities, anyone I speak to think you just lose money when you buy shares.

Because of this they don't invest. I blame greedy advisors who take exorbitant fees, when in reality it is all very simple.

A little bit of research and a DIY portfolio will do just as well as any professionally crafted one.

But there you go, thats how it is folks

Be lucky fj