Ben Haywood

Hello! I have held a Flexible Cash ISA with Bank A for some years now. In Sept/October this year (2024), I opened a second Flexible Cash ISA with Bank B. Since April 2024, I have paid ~£12000 into the Bank A Cash ISA and the cumulative amount (so including from previous years)was standing at ~£25000. In October, I deposited £1225 into the new Bank B Cash ISA In November, I withdrew £20000 from the Bank A Cash ISA to a current account with Bank C. Still in November, I then decided to move £15000 from that current account to the Bank B Cash ISA. The Bank A Cash ISA is paid interest annually - none of the £12000 paid in this year has earned any interest yet. The Bank B Cash ISA is paid interest daily - so some interest has been paid. I thought all that I had done was okay because - so far - my total money saved is (and will be) less than £20000 by April 2025 and because the money in Bank A Cash ISA is yet to earn any interest for me. I have since read that the money I withdrew from the Bank A Cash ISA, to my Bank B current account, cannot be then moved to the second Bank B Cash ISA without - for want of a better phrase - counting double to my £20000 allowance for 2024/25. I have queried this with the Bank B Cash ISA provider and they advised to contact HMRC. So I have two questions: 1. Have I inadvertently exceeded my ISA allowance? 2. What actions do I need to take either to rectify this or pay any tax owed? Thank you! Ben