top up over 50s ISA

moneylover

nothing to do with this thread but dont know how to find this out have looked at all the faqs...
How do I turn on 'watch' if its a thread I havent posted on and dont particularly want to post on but am interested in reading..
Thanks

Baldur

moneylover wrote: »

Presumably, Baldur, Newcastle wouldnt point out to the new provider that what looks like a total transfer is in fact only a partial transfer?? Or say that I had to move the whole lot? Its a different ball game from normal isnt it?

No need to worry about this at all - it would not be a partial transfer, you would be transferring the whole balance of ISA number xxxxxxxx.

A partial transfer is when you apply to transfer, for example, £8,000 out of your ISA number yyyyyyyy , which has a balance of £55,000, in order perhaps to bring the total balance under the limit covered by FSCS and leave a margin for the interest which it will earn.

When a Cash ISA is transferred, the 'losing' provider specifies whether a subscription has been made to he transferred ISA in the current tax year (by giving the date of any such subscription) - it is this which governs whether a partial transfer is permissible or not. This would not apply if, as I said above, the transfer is made on or after 6th April next year.

jem16

moneylover wrote: »

nothing to do with this thread but dont know how to find this out have looked at all the faqs...
How do I turn on 'watch' if its a thread I havent posted on and dont particularly want to post on but am interested in reading..
Thanks

Click on "Thread Tools" at the top of the thread and select "Subscribe to this thread".