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Too much in ISAs
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Napista
Posts: 16 Forumite


Can you put £20000 shared between variou ISAs (eg. £4k in LISA, £8K cash ISA, £8K S&S ISA)
Or do you have a separate £20k allowance (£4k for LISA) for each type of ISA in one tax year?
I think I've misread it and thought it was the latter and have added more into ISAs than I should've done, filling a cash ISA and putting additional money I to £s&s ISA/Lisa. Please can so someone confirm if I have messed up and what I should do please?
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Comments
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Can you put £20000 shared between variou ISAs (eg. £4k in LISA, £8K cash ISA, £8K S&S ISA)
Yes
Or do you have a separate £20k allowance (£4k for LISA) for each type of ISA in one tax year?
No
Probably best to supply exact details of what you have done to get the best guidance on what to do next.1 -
Thanks (wish I'd confirmed earlier, the language has been difficult to understand)
Ive been dripping £ into s&s ISA this year (currently used about £4k of allowance), recently opened a LISA with £1k and opened a cash ISA with 20k in recently). LISA AND S&S ISA both with same provider, cash ISA elsewhere. I would probably rather prioritise my allowance s&S allowance of possible. I can withdraw and close my cash ISA and be within my allowance but not sure if I need to inform.
Thanks0 -
Napista said:Ive been dripping £ into s&s ISA this year (currently used about £4k of allowance), recently opened a LISA with £1k and opened a cash ISA with 20k in recently). LISA AND S&S ISA both with same provider, cash ISA elsewhere. I would probably rather prioritise my allowance s&S allowance of possible. I can withdraw and close my cash ISA and be within my allowance but not sure if I need to inform.1
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I think I opened cash ISA on the 6th so potentially I could contact them to close and rectify? That could maybe cover me? As then I'd be within the allowance?0
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Napista said:I think I opened cash ISA on the 6th so potentially I could contact them to close and rectify? That could maybe cover me? As then I'd be within the allowance?1
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Thank you so much @eskbanker have cancelled and so should be fine now. Pleased to find out while it was still easy to resolve!0
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There are a lot of ISA rules, that are regularly misunderstood. Reading through this forum should add to your knowledge.1
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