Exceeding the Cash ISA limit

dunstonh

The rules of ISA contributions are published in the terms and conditions. There is only so much info that can be given and there does have to be some personal responsibility for your applications.

drmrbrewer

dunstonh wrote: »

The rules of ISA contributions are published in the terms and conditions.

Actually, I knew the rules already. I just think it wouldn't be much of an inconvenience to tell me -- at an early stage -- that I may have breached the rules. It happens. There is no point in accepting inefficiencies in any system, especially those that can be easily addressed. Fancy waiting 18 months before taking any action. But then everyone at HMRC is probably too busy trying to claw back millions in Tax Credit overpayments to worry about this.

dunstonh wrote: »

There is only so much info that can be given and there does have to be some personal responsibility for your applications.

Irresponsible people don't post on a public forum to say that they think they might be underpaying tax. Even those who are responsible, like those who post questions like this on a public forum and sit in a phone queue for hours trying to get information on their account, can find they have inadvertently breached the rules, some months after the breach. I received my first statement this morning and that was the first I knew -- I could have been told much earlier. I've been trying to contact the bank by phone and by email ever since opening this account to determine whether the payment made it in time, and eventually complained at inadequate response times and information. (As an aside: my complaint was acknowledged, but I never received a formal reply. Should I now complain about the handling of my complaint?)

I'm sure there are countless others who don't give a damn and get away with it. Probably explains why our tax bills go ever upwards.

Mike