Isa 28 October 2009 at 3:11PM edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings 3 replies 451 views

pudding1212

Can anyone tell me if it is voluntary for my ISA provider not to let me add the extra £1500 to my ISA now I am 50 ?

Baldur

Yes it is, unfortunately.

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

The Financial Services Authority (FSA) have confirmed that it is a commercial decision for ISA providers on whether they decide to allow eligible customers (those born on or before 5 April 1960) to subscribe up to the higher ISA limits from 6 October 2009.

rb10

Yes, it is.

Most ISA providers will let you top up though, even if it means breaking the original T&Cs.

Baldur

From memory, Egg is one provider which will not permit the additional allowance - the simple answer (if your account's Terms & Conditions don't preclude transfer) is to find another ISA provider that will and complete their ISA transfer form.

The additional allowance can then be subscribed after the transfer.