Added new funds to new ISA on last day of old tax year...

HeadFullOfWool

Update on my situation:

T-212 have responded from one of their "Transfer Operations Analyst" folk, who have guided me in how they can assist rectify this.

They instructed me to sell down the over-subscribed amount (plus any interest) back into the "Cash" (free funds) pot of the account. After that, they will do their adjustment to correct my mistake.

I don't withdraw it back to my bank account myself; they do that bit for me apparently.

Quote:

"Thanks for reaching out. I can see the problem here, which is that you have oversubscribed by £10,000 for the 2025/26 tax year. We would need to repair your ISA allowance to ensure you remain compliant with ISA rules.
 
To do this, we will need to withdraw £10,000 (as well as any interest gained on this) to your linked bank account. We will then adjust your allowance to reflect that you are no longer oversubscribed. Once this process has been completed, you will be free to invest the funds as part of your 2026/27 tax year allowance.

…

Please could you proceed by selling down £10,000 worth of assets at your preference? 
 
Once you have done this, send us a message, and we will proceed with the withdrawal on your behalf. Please leave this to us; we will ensure the withdrawal occurs in a way that will maintain your current ISA structure."

So hopefully once that's all processed, I'll be back in line with what I intended to do originally…

Silly me, but well done Trading 212 for helping me sort it all out!

masonic

Well that's possibly stretching their authority a little, but the key thing is they spit out the cash. That way it can't be treated as a flexible withdrawal and it is then a matter of them reporting the right number to HMRC in due course.

Agree this is beyond expectations for an ISA manager.