can you transfer from 2 cash isas

C_Mababejive

Dohhhh....another ISA question. With reference to my post no 10 above, would i be roight in saying that i have therefore not used up any of my 2009/10 isa allowance and i therefore can still open another new ISA for the purposes of capturing the 09/10 allowance??

Baldur

C_Mababejive wrote: »

With reference to my post no 10 above, would i be roight in saying that i have therefore not used up any of my 2009/10 isa allowance and i therefore can still open another new ISA for the purposes of capturing the 09/10 allowance??

As long as you have paid absolutely no new money into a Cash ISA since 6th April 2009, yes you still have your £3,600/£5,100 (depending on your age being <50 or >50 by 5th April 2010) Cash ISA allowance remaining - assuming that you have not contributed more than £3,600/£5,100 (again age-related) to a Stocks & Shares ISA since the same date.

C_Mababejive

Baldur wrote: »

As long as you have paid absolutely no new money into a Cash ISA since 6th April 2009, yes you still have your £3,600/£5,100 (depending on your age being <50 or >50 by 5th April 2010) Cash ISA allowance remaining - assuming that you have not contributed more than £3,600/£5,100 (again age-related) to a Stocks & Shares ISA since the same date.

Or £7200 in stocks/shares...?


Ta

Baldur

C_Mababejive wrote: »

Or £7200 in stocks/shares...?

Yes, if you are <50 and don't intend to use any of the Cash ISA allowance.

C_Mababejive

Baldur wrote: »

Yes, if you are <50 and don't intend to use any of the Cash ISA allowance.

Ta..I'm finally getting to grips with ISAs. I dont know why but something apparently so simple seems so complicated to many !

Are there any pitfalls to Bed & Isa arrangements?

I have paper certs for some holdings i have had for a while and i think it would be wise,long term,to shelter them within the ISA arrangement??

paul2louise

Thanks very interesting discussions. As my husband paid the £500 into the halifax account this year he cant pay any new money into another isa. The halifax isa does not allow further contributions so the £3100 cash remaining will either have to wait until april or if he closed the halifax isa and started again. He might still be valid to cancel the account as it might be within 14 days of cooling off period

i will have a talk with him.

thanks again

jamesd

C_Mababejive, ISA providers are required to check, but sometimes with unlinked computer systems they miss things. They are also required to report all subscriptions to HMRC and HMRC's computers link those by national insurance number. After the annual reporting HMRC then sends letters as required to say that you've broken the rules and tell the appropriate ISA provider to return any overpayment to you.