Can I continue to pay into one S&S ISA if I mistakenly paid into 2 earlier in the year.

kvrice

Hi, I mistakenly paid into two S&S ISAs this year. I told HMRC and they said don't do it again (unsurprisingly) but it's ok as it was a first offence and for a small amount. They couldn't however answer whether I could continue to pay into ONE of the S&S ISAs to use up the rest of my annual ISA allowance. Does anyone know? Or do I have to leave both the S&S ISAs alone til next year?

eskbanker

In general they'd declare the one that was funded first to be the valid one for the year, as the mistake was to pay into the second, but they should be able and willing to tell you this themselves, in full sight of the circumstances.  You could err on the side of caution and pay the rest of your 2020/21 allowance into a cash ISA sometime before April and transfer into S&S once the next year starts.