modemode
Joined: 5/12/2024
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RE: Accidental ISA Exceed - next steps?
Hi, I learn from some friends about the maximum allowance is £20000 of ISA account for every tax year and the money in ISA account can be accumulated to next tax year. Question 1. If I transfer £20000 to Bank A's ISA 2 years Fixed rate account in tax year 2022/23, could I deposit another £20000 to Bank B's ISA Fixed rate account in tax year 2023/24? Is this against the ISA's rule? Question 2. If this against the ISA's rule, what can I do to correct it?