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lepers | 09:19 Wed 30th Jan 2008 | Personal Finance
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What happens if you pay over your yearly allowance on your isa? do they tax you on the extra you've put in?
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I pay into my shares ISA over in internet and my cash ISA by post and both my providers tell me how much unused limit I have,so I don't think I would be able to put too much in.

Although it could be different with other providers.
I suspect it would cease to be an ISA (as you have broken the rules) and you would be taxed on the lot
you can only pay �3,000 into any single ISA account it doesnt phsically let you credit more.

If you subscribed to more then one ISA in any tax year and paid money into it i am afraid before to long you will hit with a bill from the Inland Revenue!

dont do it they will catch you...
for the Tax owed either 22% or 40%

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