HMRC has warned people with an ISA it has "limited knowledge" of a rule quirk - as it tells UK households to contact their ISA provider instead. A taxpayer reached out questioning the amount they could transfer out of their SAYE scheme and whether it was limited to £20,000 a year.

The taxpayer also wanted to know if there was an option to sell the shares once transferred over, as with a flexible ISA, so they could withdraw the cash and then reset their ISA allowance, with the potential to transfer another £20,000 from SAYE into an ISA.

In response, HMRC directed them to an advice page on the Labour Party government website.

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HMRC said: "Please be aware we have limited knowledge of how ISAs are managed and we sugge

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