Individual Savings Accounts (ISAs)

What if I pay into too many ISAs?

If, by mistake, you put money into

• more than one Maxi ISA

• a Maxi and a Mini ISA, or

• more than one Mini ISA of the same type in the same tax year

then the payment into the second ISA is invalid, and you are not entitled to any tax relief on investments held in the second ISA.

You must tell the manager of the second ISA as soon as possible that it is invalid. You cannot correct this mistake by closing the first ISA. If you are unsure about what to do call the HMRC Helpline on 0845 604 1701 for advice (calls charged at local rates).