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Paid into multiple ISAs, do I need to anything?
Admoneyandstuff
Posts: 15 Forumite
At the start of last tax year (19/20) I paid a small amount into a S&S ISA with one provider. At the end of last tax year I paid a larger sum (but still in total well within the ISA limit) into a S&S ISA with another provider, forgetting/not remembering that you were supposed to stick to 1 provider. Do I need to do anything? Will there be any consequences for doing this?
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Comments
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HMRC will let you know if there's anything you need to do or if there's anything they'll instruct the providers to do - chances are they'll deem the second payment to be invalid and it'll be reversed.
https://www.gov.uk/guidance/close-void-or-repair-an-isa-if-youre-an-isa-manager#repair-void
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There isn't anything you can do. Wait for HMRC to contact you to explain what action (if any) they will take.
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They will come for you...
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Alexland said:They will come for you...
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