Cash ISA Discussion/Question

lisyloo

Forever, I start to see now

To be pedantic - it isn't quite forever.
It will stop when you die.
But I guess that's forever as far as you are concerned

Each years allowance is lost if you don't use it.
Currently you get a new £3K allowance each tax year.
Unfortunately this is reducing to £1K in 2006, but personally I have a feeling that the government will increase it or replace it by then, because they still want to encourage people to save.
However it remains uncertain at that time, so it's worth taking advantage now if you can.

tifferlees

;D
Thanks Lisyloo I am beginning to see the light. Having read some of the other threads again it is beginning to make sense.

Personally, I have made myself a pledge that I WILL start to understand my finances and get savvy - looks like I have found the best place to learn. Cheers All.

Chris

Lol

Am I too late now???
Just called M&S for the one Martin has suggested and although he has said the deadline for it is 28 March I think on the phone she said the form would be sent to me to apply for the NEXT tax year. If I'm too late for M&S can I get in anywhere else which is just as competitve?
HELP! :-/

MSE_Martin

Ring back straight away. As far as i was told (by big cheese). The application packs are for next year - but you dont want a pack - you just want to get the ISA which you should be able to do until 28 March

Lol

ARRghh! Ok I'll get right on it. Think it was automated service only though via the free phone number...and therefore offering no "options". Cannot open the link straight to its website as it is not compatible with my mac. Thanksxx

QuidProQuo

Just posted a new thread with this question before I noticed this thread so here goes again anyone:

I returned my application and cheque to IF last Tuesday, they still haven't paid the cheque into the new ISA

I am concerned that I will miss this years deadline for the tax free allowance

When I rang IF they said that they have received the application and the cheque and that this now ensures I get the 2003/2004 tax allowance

Is this correct even if they don't pay the cheque in until say the 2 April or later?

david78

I think the account must be opened. But they can just put any date they want down for opening so they will probably pick the date they got your application/cheque.

By the way, the tax year doesn't end until 5th April so there's still plenty of time for the cheque to be cashed.

QuidProQuo

OK Thanks mate

I'll stop worrying about it now

mr.steve_2

Martin says that Abbey has just launched a 4.6% cash ISA in time for the April 5 tax year end. Surely there is not enough time to get that sorted! I applied for an IF cash ISA weeks ago, sent off all the relevant forms, plus a cheque, then they sent back my utility bill that I sent to them as verification then asked me to send them another one! Well this was about 2 weeks ago and have heard NOTHING!
Can I get in touch with IF, cancel my application (I'll enjoy doing that, believe me), then go open an Abbey cash ISA in time for deadline????

System

Hi,

I am considering transferring my ISA from smile to Abbey (my rate would improve from 4.25% to 4.6%). What I want to know is, can I transfer my current ISA balance to the new bank now (i.e. at the start of the 04/05 tax year) + still get my £3000 allowance with my new account? ???