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Inheritance what to do with the money
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I was thinking if I opened an isa now say fixed till 2023 that would use my 20k allowance. If I opened another in April 2023 then I can't have another 20k allowance can I? As the money would be locked in till October and I suppose I would get taxed for a few months but that tax would be in the following tax year that correct? !
You are complicating things .
You can add £20K of new money to a cash ISA every tax year.
You will not pay any tax on interest earned on savings in an ISA.
It is as simple as that.
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