Skipton LISA - Transfer in from partners account

billymadbiker
billymadbiker Posts: 249 Forumite
in ISAs & tax-free savings
Hi,
I have a Skipton Lisa opened with £1.
Can my partner transfer in the remaining £3999 from there account?
Or would it be better to transfer into my account then I transfer again into the Lisa?

Thanks!

Comments

  • Fcuktheworld
    Fcuktheworld Posts: 5 Forumite
    I have never understood these isa's. 450K in london is a joke
  • billymadbiker
    billymadbiker Posts: 249 Forumite
    I'm not anywhere near London.
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Fcuktheworld wrote: »
    I have never understood these isa's. 450K in london is a joke

    Please explain.
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    In answer to the original question most providers prefer recieving deposits from your own bank account as it makes it easier for them to satisfy money laundering requirements. You could check with your provider.

    I have even had problems with 2 providers in the past where a deposit from our joint account was rejected as they only electronically checked the first name but it was resolved when I sent them a scan of the top part of the bank statement showing the second name.

    If your partner is gifting/loaning you £3999 then it is much cleaner if they send it to your bank account first.

    Alex
  • bubieyehyeh
    bubieyehyeh Posts: 587 Forumite
    Name Dropper First Post First Anniversary
    I don't think it is permitted to transfer ISA savings between people. I think it would have to be treated as a withdrawl and a subscription to your ISA allowance for this year.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    bubieyehyeh wrote: »
    I don't think it is permitted to transfer ISA savings between people. I think it would have to be treated as a withdrawl and a subscription to your ISA allowance for this year.

    Yeah: the "I" in LISA stands for "Individual".
    Free the dunston one next time too.
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    bubieyehyeh wrote: »
    I don't think it is permitted to transfer ISA savings between people. I think it would have to be treated as a withdrawl and a subscription to your ISA allowance for this year.
    You are right, ISA transfers between people are not allowed. I don't think this is what the OP was asking though. They meant depositing money from a current account, I think, and Alexlands' response should settle the question.
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Except on death of a spouse however technicaly even that is an additional individual allowance.
This discussion has been closed.
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