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Posted Sat, 14 Sep 2024 11:14:52 GMT by Dhrub Mandal
Hi, I opened a new Cash ISA that pays daily interest. So far, I have deposited £10,000 into the Cash ISA and received £100 as interest. I want to utilize the maximum Cash ISA allowance of £20,000. Am I allowed to transfer an additional £10,000, or only £9,900, since my current balance is £10,100 due to the £100 interest?
Posted Thu, 19 Sep 2024 15:26:23 GMT by HMRC Admin 25 Response
Hi Dhrub,
Please see guidance here:
Individual Savings Accounts (ISAs)
Which confirms You do not pay tax on interest on cash in an ISA.
Thank you. 

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