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ISA Dilemma
Comments
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Yes, I agree. My wife often reminds me that what's hers is hers and what's mine is also hers. 😯😯
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HL's linked account arrangement not just limited to spouses.
I set up up my mother's HL account, linked it to mine and operate it exclusively on her behalf. She has never accessed it herself, wouldn't know how and is content with just seeing her investment income drop into her bank account monthly.
Would I prefer my mother be more in engaged with what I am doing on her behalf? Yes. Will that ever happen, not a chance.
I have to concede that they are people ( many it seems) who simply cannot be asked.
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That is also true, but I had forgotten it. I was correcting the mistaken info that a LASTING PoA was required.
Eco Miser
Saving money for well over half a century1 -
So very different to the generation before mine where commonly wives knew nothing of their husband's income or finances, and were paid "house-keeping money". It's now more widely recognised that a partnership that is to last needs mutual trust and respect.
In my parent's generation it was stereotypical for the stay at home wife to meet the working husband at the factory gates on payday, take the unopened pay packet, and hand over 'pocket money' for the husband to spend in the pub. She then dealt with the house-keeping and any savings.
Different times or different classes?
Eco Miser
Saving money for well over half a century6 -
Or if he got to the pub first, then staggered home hours later, she would be waiting for him with the rolling pin.
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Sounds as if women were more assertive in your part of the world than mine. Good for them.
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Sorry if I have missed it, but have you contributed more than £20k during the tax year? If not then you don't need to do anything - or anything you do doesn't much matter.
But if you have contributed more than £20k then you really should not try to fix it yourself. You could potentially lose some or all of this year's allowance and end up with an unexpected tax bill. You should contact the provider to whom you contributed the excess, explain your error and ask them to formally repair the situation. If this is your first offence then you almost certainly won't face any HMRC penalties (other than paying any tax due).
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Looks like that article is nonsense. Despite being written in May 2026, it says "The key rule that trips up many savers is the “one ISA per type per tax year” restriction. You might have several Cash ISAs from previous years, but you can only contribute to one of them (or open a new one) in the current tax year."
That's completely wrong. There is no restriction on the number of cash ISAs you can pay into within a tax year. It repeats this error in two other places in the article.
It also incorrectly states that HMRC automatically receives the dates of every contribution.
Looks like AI slop.
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Maybe it's propaganda released by HMRC to make you think you're more likely to be found out than not 😶
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