Trading 212 ISA.

tizzy71

Hello. I currently have a cash isa account that i have the max £20000 balance. Am i right in thinking I can put more money in this account? So £20000 cash isa, tax free interest, then anything above is still paid at the 5.1% but taxed? Thank you.

sausage_time

You can only pay a total of £20000 in any one year.  With Trading 212 you can add a seperate Trading Account and hold cash there if you want, but interest will be taxable.

slinger2

tizzy71 said:

Hello. I currently have a cash isa account that i have the max £20000 balance. Am i right in thinking I can put more money in this account? So £20000 cash isa, tax free interest, then anything above is still paid at the 5.1% but taxed? Thank you.

There is no such thing as a max balance. You can put in £20,000 each tax year. All interest in a cash ISA is tax tree whatever the balance.

PixelPound

tizzy71 said:

Hello. I currently have a cash isa account that i have the max £20000 balance. Am i right in thinking I can put more money in this account? So £20000 cash isa, tax free interest, then anything above is still paid at the 5.1% but taxed? Thank you.

You can transfer in balances and that's not counted to the £20k you can add this year.

Qyburn

tizzy71 said:

Hello. I currently have a cash isa account that i have the max £20000 balance. Am i right in thinking I can put more money in this account? So £20000 cash isa, tax free interest, then anything above is still paid at the 5.1% but taxed? Thank you.

When did you pay the £20,000 into the account?