Help! ISA Transfer Problem

Muzza_2

Ok,

I had an ISA with IF which had £5718 in it (including that years interest). I made no contributions on the 05/06 tax year.

I transferred it, using the Halifax transfer process, all went well.

I now tried to deposit money into, it but it wouldnt let me, it said it had reached my limit, although the internet banking says i can still invest 3000.

I phone up, and am told that transferring my isa, is the same as depositing the money and that i can't put any more money in.

I explained that is wrong and i should have the 3k available to invest as i have not used the allowance this year and i transferred, not closed and moved.

Can someone confirm what i say is correct before i get even more !!!!ty with them?

Bizzazrly, she tells me i can deposit 282 as that will take me up to the 3 k limit for that year, how does she figure that out? All halifax can see is one deposit of 5718 when the account was opened.

I also pointed out that if what she said was true, i am considerably over the isa limit as i made a one time deposit of 5718, her response "your one of the lucky ones" i queired what she meant and she said "becuase it's not been noticed" It appears she is advocating breaking inland revenue rules.

derrick

Transfering money into ISA's does NOT count towards that tax years contribution, therefore if you have not put any cash into an ISA this tax year, April 2005-April 2006, you are allowed to put in up to £3000 as this tax years allowance

derrick

See THIS PAGE last paragraph under "ISA Limits"

Muzza_2

Cheers for that i thought so!

I also called up halifax posing as a new customer asking if i transferred my isa, i would still have the 3k limit available and was told very nicely "of course you will"

I feel a letter of complaint coming on when I get this sorted!

Muzza