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could someone explain how a mini ISA works to me - think I am confused..

1 reply

fairylights · 01/04/2008 13:51

I took out a mini ISA about a month ago and understand about only being able to put in £3000 a year, but I thought that after 1st April I could put more in, but having tried to put more in today it (internet banking)wouldn't let me and now I am wondering if the "year" starts on the date you took out the ISA? Can anyone tell me? I guess I can just open another one now as its 1st April anyway but would get more interest if i add to the first one i figure. TIA!

JaneMumsnet · 01/04/2008 14:38

It's like a normal savings account, it's just tax free. So if you pay tax, you don't on your ISA earnings.

If you are a non-tax payer, you might as well just stick it in a normal account, as you can claim the tax back (am LL, BTW)

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