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This is from CHATGPT . sorry about the odd formatting 



If you’ve contributed more than the £20,000 ISA allowance in the current tax year (2025/26), it’s important to address the situation promptly to mitigate potential tax implications. Here’s what you should do:

✅ Steps to Take

1. Contact Your ISA Provider(s):
   

• Reach out to the provider(s) where the excess contribution occurred.
• Request the removal of the overpaid amount to correct the error.
• Providers have procedures to handle such situations and can guide you through the process.  

Avoid Self-Correction for Previous Tax Years:

• If the over-contribution happened in a previous tax year, do not attempt to rectify it yourself.
• HMRC advises against self-correction in such cases.
• Wait for HMRC to contact you with instructions on how to proceed.  

Be Aware of Tax Implications:

• Any amount contributed over the ISA limit does not qualify for tax-free status.
• Interest or gains earned on the excess amount may be subject to taxation.
• HMRC will inform you of any tax liabilities and the steps to rectify the situation.  

ℹ️ Additional Information

• Annual ISA Allowance:
  
• For the 2025/26 tax year, the total ISA allowance remains at £20,000.
• You can split this allowance across different types of ISAs (Cash ISA, Stocks and Shares ISA, Innovative Finance ISA, and Lifetime ISA), but the combined contributions must not exceed £20,000.  
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• Monitoring Contributions:
  
• Regularly track your ISA contributions to ensure you don’t exceed the annual limit.
• Keep records of all deposits made into your ISAs throughout the tax year.
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• Future Changes:
  
• While there have been discussions about altering ISA allowances, no changes have been implemented as of now.
• Stay informed about any potential updates to ISA rules in future government announcements.  
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