Is it too late to put money in my ISA

freeasabird · 27 February 2009 at 4:53PM

I haven't put any money into my Barclays Tax Beater ISA for the 08/09 year because I lost the will to live when they took forever to sort out getting a payment into the right tax year. I don't want to lose out on putting in money for 08/09 but is it took late to start a new one for this year? Or shall I just try again to put in money into my Barclays ISA for 08/09 and then start a new one with a different company for the 09/10 year later on.

I'm a bit confused because I know you can only have one ISA a year. Help me please!

456789 · 27 February 2009 at 5:11PM

Put it into the barclays and then look for an ISA which accepts transfers in the new tax year

You can have as many ISA's as you want in a year but can only put in £3600 (not sure if only can put into one or can put some in one and some in another)

Stavros_3 · 27 February 2009 at 5:14PM

Don't lose out on the tax free status, just bang in £3,600, then look for a new provider for 09/10

SmileyG_2 · 27 February 2009 at 5:17PM

456789 wrote: »

Put it into the barclays and then look for an ISA which accepts transfers in the new tax year

You can have as many ISA's as you want in a year but can only put in £3600 (not sure if only can put into one or can put some in one and some in another)

Second line is incorrect.

You can only deposit money with one cash ISA provider in any one tax year, although it does not have to be the provider that you may have used the previous year.

SmileyG

To be

freeasabird · 27 February 2009 at 5:31PM

Thanks everyone. Looks like I'd better get to Barclays pronto so that I can try to put in my 08/09 money.

JoeCrystal · 27 February 2009 at 5:35PM

Hang on, to make it crystal clear. (oh the pun)

If this tax year, I paid in £3600 with Lloyds TSB Cash ISA but I can put in new £3600 with someone else in new tax year?

Q. How many ISAs can I have?
A. There are limits on the number of ISA accounts you can subscribe to each tax year. You can only put money into one cash ISA and one stocks and shares ISA - one each for cash and stocks and shares.

But in different years, you could choose to save with different managers. There are no limits on the number of different ISAs you can hold over time.

I am reading this right? But what if in third year, you got good cash ISA that accept in transfers but can you transfer from ISA in first year and ISA in second year to ISA in third year at same time?

dasherman · 27 February 2009 at 5:50PM

JoeCrystal wrote: »

I am reading this right? But what if in third year, you got good cash ISA that accept in transfers but can you transfer from ISA in first year and ISA in second year to ISA in third year at same time?

Transfers don't count towards your yearly limits.

malik999 · 27 February 2009 at 6:41PM

JoeCrystal wrote: »

Hang on, to make it crystal clear. (oh the pun)

If this tax year, I paid in £3600 with Lloyds TSB Cash ISA but I can put in new £3600 with someone else in new tax year?

I am reading this right? But what if in third year, you got good cash ISA that accept in transfers but can you transfer from ISA in first year and ISA in second year to ISA in third year at same time?

Yes.
So if you had used your maximum £3600 each time....In yr 3 if you open your ISA which allows transfers in you can either leave your previous yr1 and yr2 where they are or you can transfer them into where you have your yr 3 isa. So instead of having 3 x £3600 isa's you in effect have 1 x £10,800 isa ( + all your interest on top)

hth

Is it too late to put money in my ISA

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