Carolg
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RE: Opening more than one cash Isa in a tax year
Thanks for clarification 👍 -
Opening more than one cash Isa in a tax year
I have a cash Isa opened this year using funds from a previous Isa that was held with same provider. My remaining allowance is £20000. Can I keep this Isa and also now open a new cash Isa with a different provider? -
Tax code shows deduction for income from savings
Hi, I have a private pension of about 8000 and draw down approx 3000 from another pension pot, I’m taxed on the drawdown but get it repaid by the pension company each month, I’ve been taxed on my private pension and hopefully will get this back automatically. My tax code shows a deduction for interest on savings - my income from this is about 3000 which I understand is less than the max amount allowed on my total income. My concern is that once I get my state pension if this deduction is still on my tax code then I’ll be paying tax on it. Do I have to reclaim every year or can my tax code be amended as my total income is under the threshold of I think 17000 for people in my situation. Hope this makes sense.