Cash ISA — Limit Increase 2009/10

noh

For further info HMRC bulletin for ISA managers is here:-

http://www.hmrc.gov.uk/isa/bulletin14.htm

joegib

I haven't waded through the regs mentioned in the link posted by noh but the sentence:

'Up to £5,100 of the new ISA allowance can be saved in a cash ISA with one provider' (my emphasis)

— confirms the point made by other posters.

Thanks for comments.

brewerdave

Its amazing - my ISA provider for this year is Principality - I phoned them yesterday querying top ups - they still haven't made a decision !!!!

RayWolfe

As did I. Isn't it pathetic?

fullstop

Received confirmation through the post today from Julian Hodge Bank of the increased payments for over 50s in October. :T

"If you have opened a fixed rate ISA during the period 6 April to 5 October 2009, and you were born on or before 5th April 1960, you can add to this investment for this year only. all other details of your account will stay the same including the rate of interest."

p00hsticks

fullstop wrote: »

Received confirmation through the post today from Julian Hodge Bank of the increased payments for over 50s in October.

"If you have opened a fixed rate ISA during the period 6 April to 5 October 2009, and you were born before 5th April 1960, you can add to this investment for this year only. all other details of your account will stay the same including the rate of interest."

I'm not sure if it's the bank's error or yours in transcribing, but I think that this should probably read

"....and you were born on or before 5th April 1960..... "

Which leads me on to my question - does anyone know if there is any HMRC guidance as to whether those of us who will turn 50 between 7th October 2009 and 5th April 2010 can top up our ISAs immediately on October 6th or do we actually have to wait until our 50th birthday ? Or is it something that's going to be elft to the discretion of individual providers ?

fullstop

p00hsticks wrote: »

I'm not sure if it's the bank's error or yours in transcribing, but I think that this should probably read

"....and you were born on or before 5th April 1960..... "

Which leads me on to my question - does anyone know if there is any HMRC guidance as to whether those of us who will turn 50 between 7th October 2009 and 5th April 2010 can top up our ISAs immediately on October 6th or do we actually have to wait until our 50th birthday ? Or is it something that's going to be elft to the discretion of individual providers ?

Correct pOOh , my mistake, have corrected.

Paul_Herring

p00hsticks wrote: »

Which leads me on to my question - does anyone know if there is any HMRC guidance as to whether those of us who will turn 50 between 7th October 2009 and 5th April 2010 can top up our ISAs immediately on October 6th or do we actually have to wait until our 50th birthday ?

The URL in post 12 answers this, with a helpful example.

steady__eddie

I received a [STRIKE]comic[/STRIKE], sorry newsletter from National Counties today in which they state that they will be only too delighted to accept the additional £1500 w.e.f Tuesday the 6th of October from anyone who has already opened an I.S.A. with them since 06/04/09.
The newsletter can be downloaded in pdf from their homepage http://www.ncbs.co.uk/ncbs.asp

fullstop

steady__eddie wrote: »

I received a [STRIKE]comic[/STRIKE], sorry newsletter from National Counties today in which they state that they will be only too delighted to accept the additional £1500 w.e.f Tuesday the 6th of October from anyone who has already opened an I.S.A. with them since 06/04/09.
The newsletter can be downloaded in pdf from their homepage http://www.ncbs.co.uk/ncbs.asp

Managed to read the article about the ISA did not bother with the rest , noticed they won best Cash ISA Provider 2008/9, they will not win it this year with the 3 year ISA paying 3% the same as the 1 year rate. Think interest rates will have moved upwards within a couple of years making that rate disappointing.