ISA Two in one year! Help

[Claire123]

I had an ISA with the Halifax 2006/2007 and then opened one with the Barclays bank the year after 2007/08 (I didn't realise that Halifax had automatically opened the ISA again for this year just ended 2007/08). I have now earned interest on the Barclays one and the Halifax one and don't know what to do.

Do I need to ring HMRC or wait for a letter asking for a payment/fine and does anyone know how much tax I will pay or what the fine is likely to be? I have placed 3,000 in the Barclays one this year and had 3,000 in the Halifax one from last year (I put money in last year but nothing this year and still earned interest on it at this year end).

Help � sorry if this doesn't make sense.

Claire

[Claire123]

Thanks for the quick answer. Am such a worrier. Should they have paid me interest on the halifax one this year though as well as the Barclays one gaining interest too?? It looks as if i have opened it in a different year but it has remained open if that makes sense.

[Claire123]

Thanks, that�s great. Another silly question. As I now have one in Halifax and one in Barclays, what would I need to do if I wanted to add more cash in this tax year. Do they automatically stay open and run continuously or do I need to close or transfer one to the other etc ? Not very clued up with this ISA lark as you can tell!

[buildersmate]

They stay open until you close them. You can add money to one of them, up to the annual limit.
You are looking at Tax Year 2008 - 9 now for your next injection - the deadline for the 2007-8 year has passed.