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ISA over subscription

Answer
Mike Jackson
Posted Fri, 15 Nov 2024 08:04:31 GMT by Mike Jackson
Hello, I am trying to help my elderly mother with her finances. Unfortunately she has inadvertently opened two fixed term cash ISAs in the current tax year with £20k in each therefore exceeding the annual 20k limit. Please can you tell me how I should help her remedy the situation?
Answer
HMRC Admin 21 Response
Posted Tue, 19 Nov 2024 08:28:26 GMT by HMRC Admin 21 Response
Hi,
If she have oversubscribed in the current tax year, she can contact the ISA provider to instruct them to remove overpayment amounts to correct the error.
Thank you.

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