Stocks and shares ISA - transfers?

[nammynake]

In my haste to invest this year I have ended up with two stocks and shares ISAs:

1) Halifax stocks and shares - opened several years ago. Only investment this year is the purchase of a single AIM share, which remains invested and has seen a generous paper profit.

2) Vanguard Life Strategy 100% equity fund. Opened in the past couple of months, small amount invested and some paper profit.

As I understand it, I shouldn’t have two share ISAs which were funded in the same tax year and will therefore to close one down. Questions (1) Can I transfer the Halifax ISA into the Vanguard ISA? (2) I presume I need to contact HMRC regardless - in which case will need to demonstrate the profit is below the CGT threshold?

Thanks

[ellroy]

If I recall the first one is your ISA, which ever it is. Last time I had a client, some years ago, do this the provider of the second wrote to them and then sorted out the repayment of excess tax.

Very little to do, just an error and HMRC didn’t get involved especially. Just let your ‘second’ ISA provider know, they should be able to sort relatively painlessly.