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Isa account balance
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momasboy
Posts: 1 Newbie
Hi, I have a cash ISA account. My balance as at April 6th was about £20k I have now put in £3k this month so my balance is over £23k. Is this ok to have a balance of over £20k as I will only put in an extra £20k this tax year or should i only have a maximum balance in the account of £20k at any one time? Thanks in advance for any help!
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Yes it is fine.
The 20k limit applies to contributions per tax year (across all ISA types), not how much is in the account.
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