HMRC has issued a warning for ISA savers and told them to reach out to their bank immediately. The taxman spoke out on X, formerly Twitter, to issue a warning for savers.

One taxpayer reached out to question: "Is the amount you can transfer from a maturing SAYE scheme limited to £20k per tax year, or with a Flexible ISA can you sell the shares once transferred, withdraw the cash to free up the ISA allowance, and then transfer another £20k from the SAYE scheme to the ISA?"

"I've read the info. I'm still not clear whether I am allowed to transfer £20k of shares from the SAYE to a Flexible ISA, sell the shares in the ISA and withdraw the cash (thereby resetting the ISA limit), and then transfer another £20k from the SAYE to the ISA in the same tax yr?" they said.

READ MORE UK prescripti

See Full Page