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Where is ISA interest added?
royeee
Posts: 126 Forumite
I have put in £3k for cash ISA for tax year 2007/8 and will add £3.6k for tax year 2008/9 when I get the dosh. Considering that there are limits for putting in cash for each tax year, is the monthly interest (in the case of my ISA) added to the ISA account or to my normal account?
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Comments
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Usually to the ISA account. But it doesn't count towards your contribution limit.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
interest is not a contribution.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks for the answer.0
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