help... icesave isa cash...

grantyboy1

hello

i recieved my money back from icesave along with the isa certificate....

what do i do now? do i put the money in the bank and then send the certificate to the new provider? or do i send the certificate and cheque to the new provider?

my main concern is putting the money in the bank and being taxed even for the short time its there!!

please help!

KingL

You have upto 5 April to transfer it into a new ISA. Check out the current ISA offerings, pick one you like, open an ISA account and tell them that you want to transfer-in from Icesave. As part of the account opening process you will have to supply the certificate and pay the funds into it.

In the meantime, you can keep the money where-ever you like. You will be taxed on any interest received on it until it's back in an ISA.

Paul_Herring

grantyboy1 wrote: »

what do i do now? do i put the money in the bank and then send the certificate to the new provider? or do i send the certificate and cheque to the new provider?

You ring up your prospective new provider and ensure that they are aware of the IceSave certificates, and what to do with them.

Once you're certain they won't fluff it up, you send your certificate, along with a cheque for the amount drawn on the account where your funds are, along with a completed ISA transfer form supplied by the new provider.

my main concern is putting the money in the bank and being taxed even for the short time its there!!

The money itself won't get taxed, only any interest it may generate while it's there.

grantyboy1

thank you thats a bit clearer now! :money:

Icesaver

I had no problem with Northern Rock. Just filled in the online application form, printed it off and sent it with a personal cheque, the re-instatement certificate, and a transfer form, quoting Icesave Compensation as the Institution I was transferring from. Account was open within a week.

hendrix04

hello all

Anyone reinvested icesave isa compensation into julian hodge fixed rate isa.
Did you just send reinstatement certificate,check and application form.I am thinking it is filled in as an isa transfer is that correct?
thanks in advance.

maxi_isa

My wife and I moved our Icesave ISAs to Julian Hodge last week.
The JH ISA was 4.25% fixed for one year.

You download the transfer form and return your Icesave certificate plus cheque. No need to send the transfer authority form as you already have the cash.

Julian Hodge are accepting Icesave transfers so their process is very efficient. From application to completion took just 1 week for us.