Isa limits

Ybe

Do the major banks such as Barclays generally stop you from being able to exceed your ISA allowance even if you hold more than 1 ISA account wi the the same bank? For example, if you hold a cash isa and investment isa with Barclays, will they monitor to ensure you don’t exceed your allowance on both combined? 

Also with any non ISA savings you hold, banks automatically report interest earned to HMRC so do you don’t have to do it yourself? 

eskbanker

Ybe said:

Do the major banks such as Barclays generally stop you from being able to exceed your ISA allowance even if you hold more than 1 ISA account wi the the same bank? For example, if you hold a cash isa and investment isa with Barclays, will they monitor to ensure you don’t exceed your allowance on both combined? 

They should be able to monitor this and prevent oversubscriptions, but it's best not to rely on the bank doing this for you, and to keep track of your own deposits.

Ybe said:

Also with any non ISA savings you hold, banks automatically report interest earned to HMRC so do you don’t have to do it yourself? 

Most savings providers report this to HMRC, some smaller or indirect players don't, but major banks like Barclays would.  Again, the onus is on you to track your taxable income and doing so allows you to reconcile with the data HMRC receives (and feeds back in annual statements or updated PAYE coding notices).