Abbey Transfer in declaration

mooch

I'm transferring some ISAs to an existing Abbey Direct ISA. Downloaded transfer form from here

Last page has a Declaration section where you have to tick either:

I declare that I am transferring funds and will contribute
to this ISA in the 2008/2009 tax year

or

I declare that I am transferring funds and do not intend
to contribute (for example you’ve already used your full
contribution for 2008/2009) to this ISA in the 2008/2009
tax year. (In which case, clauses 1, 2, 6 & 7 do not apply)

I haven't used any of my allowance for this year or opened any new ISAs. Given that I haven't decided where I'll contribute this year, I'm inclined to tick the first option and hope that there won't be any problem if I open an ISA elsewhere.

The form says this declaration is due to new ISA regulations that take place in 2008/2009. Anyone know why they ask this now?

cc004-2

mooch wrote: »

I'm transferring some ISAs to an existing Abbey Direct ISA.

Hi,

Firstly do a bit of research on here before you do any more with Abbey and their ISA "team" - check my and other peoples posts on here. I've had a epic time with them since mid April when I opened an account online. My transfer was finally completed yesterday 25th July. I'm sure I'm not the only person to have had their fair share of fun with Abbey.

On my transfer form I selected the second option, to transfer only into that particular ISA. I think the key words on the form are "this ISA", i.e. paying into the Abbey account. At the time I filled out the transfer form, I had already decided not to subscribe my 2008-9 money with them - and haven't.

However, I have since opened a new HSBC ISA at a better rate in subscribed my full £3600 of 2008-9 money into that one instead.

Sorry, can't help with your last question though...

Cheers,
CC.

mooch

I noticed the posts mentioning problems with transfers when I looked for an answer to my particular question.

I don't want to contribute for this year just yet, so I'd rather not open a new ISA right now and Abbey is 6% compared to my other ISAs which are all 5% or less, so I figured I'd keep it simple and just fill in the forms for Abbey. Will take another look at your posts to see if it's worth the potential hassle.

In the meantime, anyone got any idea about this declaration?