We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Have I over deposited in this tax year?
tracyk23
Posts: 34 Forumite
Hi guys - not sure if I am over thinking this...
I put £15,000 into Virgin Flexi ISA11 on 13 Mar 2024 (23/24). I got a note from them saying it would move to Flexi ISA3 on 31 Mar 2025. Is this counted against my 24/25 ISA allowance? As I have also deposited £12,500 with Trading212 on 20 Feb 2025. Does that mean I have deposited £27,500 into an ISA in the 24/25 tax year?
I put £15,000 into Virgin Flexi ISA11 on 13 Mar 2024 (23/24). I got a note from them saying it would move to Flexi ISA3 on 31 Mar 2025. Is this counted against my 24/25 ISA allowance? As I have also deposited £12,500 with Trading212 on 20 Feb 2025. Does that mean I have deposited £27,500 into an ISA in the 24/25 tax year?
0
Comments
-
You are fine, the original £15,000 is still treated as a 23/24 deposit - which you can transfer out of Virgin as well.1
-
"Transfers" never affect your annual allowance.3
-
No, because you have not deposited any additional money into the “ISA system” this tax year, apart from your T212 deposit.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards