Over investing in an ISA
Discussion
Any thoughts on what might happen if you over invest in an ISA? I've fully invested this years allowance in a stocks and shares ISA. I've just gone through my notes and realised I had to invest a token amount in a cash ISA as part of transferring previous cash to a better rate.
I believe they have a database that tracks this type of stuff but wonder what they do when they find it? If I cashed out an amount I doubt that would make any difference.
I believe they have a database that tracks this type of stuff but wonder what they do when they find it? If I cashed out an amount I doubt that would make any difference.
Jon1967x said:
Any thoughts on what might happen if you over invest in an ISA? I've fully invested this years allowance in a stocks and shares ISA. I've just gone through my notes and realised I had to invest a token amount in a cash ISA as part of transferring previous cash to a better rate.
I believe they have a database that tracks this type of stuff but wonder what they do when they find it? If I cashed out an amount I doubt that would make any difference.
I had a friend who did this, I recall they cancelled the cash ISA and lost out on interest!I believe they have a database that tracks this type of stuff but wonder what they do when they find it? If I cashed out an amount I doubt that would make any difference.
I believe it's linked via National Insurance info.
Jon1967x said:
It wasn't much and if I lose the interest on the cash isa I'll not be too upset.. Interest on 1k is prob £15.
Withdrawing it won't cancel the fact it's been invested as far as I know.
I'll wait for my slapped wrist
Speak to you provider mate - I did this by mistake and barclays were able to sort out from their end!Withdrawing it won't cancel the fact it's been invested as far as I know.
I'll wait for my slapped wrist
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