ISA Question regarding interest earnt


J

James

I have the maximum in a cash ISA for the current tax year. Will I be
penalised if the interest takes me over my personal allowance of £3600? My
statement shows the interest has been added to the balance.

Thanks
 
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A

Andy Pandy

James said:
I have the maximum in a cash ISA for the current tax year. Will I be
penalised if the interest takes me over my personal allowance of £3600? My
statement shows the interest has been added to the balance.
Click to expand...
Nope - the 3600 is the max you can put in per year, interest can be added on top
of that.
 
J

Jonathan Bryce

James said:
I have the maximum in a cash ISA for the current tax year. Will I be
penalised if the interest takes me over my personal allowance of £3600?
My statement shows the interest has been added to the balance.
Click to expand...
No
 
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