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Posted Tue, 14 Jan 2025 22:47:23 GMT by Vrmarkit
I put £15,000 into flexible ISA "X", and the accidentally also put £10,000 into a different flexible ISA "Y" during the tax year. In the same tax year I realised my mistake and have withdraw £5000 from ISA "x", so now only £20,000 was put in during the tax year. What should I do about the period of time during the year I had put more than £20k in? I fixed the situation already. Do I need to do anything?
Posted Fri, 31 Jan 2025 13:50:10 GMT by HMRC Admin 20 Response
Hi,
Any interest arising from the excess in the ISA, would be declared as untaxed interest, along with any other untaxed interest and declared on a self assessment tax return, if you are required to complete one, or in witing to HMRC, if you are not not.
Thank you.
 

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