We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Invest in an ISA
pothole50
Posts: 244 Forumite
I have some money to invest in an ISA but I am confused, I know on here you were counting down to an ISA date in April does that mean I cant get one until next year.
I do have a cash ISA with Natwest but theres only £40 in the account, I tried online to transfer money to it but it would not let me. I have been looking at the Alliance one but dont know when I could get one.
pothole
I do have a cash ISA with Natwest but theres only £40 in the account, I tried online to transfer money to it but it would not let me. I have been looking at the Alliance one but dont know when I could get one.
pothole
0
Comments
-
Hi Pothole,
You can take out a current ISA any time in that particular financial year. The countdown ticker thing was letting us know how much time there was before the cut-off for that particular financial year ended. So, at the beginning of April, the ISA allowance for 2009-2010 ended, and we can't put anymore money in that ISA. Now, we're in the 2010-2011 financial year, so we can use our ISA allowance for this financial year anytime from now until next April.
Have a look around at the different ISAs available & decide which one you think best. Last time I looked the A&L/Santander one didn't look too bad. Remember though that this has an introductory rate (I think), so you'll probably find it best to move it next year
Liz
x"Science is a wonderful thing if one does not have to earn one's living at it" Einstein 19510 -
You can open and put money into 1 ISA each tax year, which starts on April 6th.
If you haven't put money into a new ISA from April 6th (a month and bit ago) then you can open a new ISA now.0 -
you,yourelf cannot transfer ISA money, you to fill in a form from your new provider and they will deal with it for you.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
you,yourelf cannot transfer ISA money, you to fill in a form from your new provider and they will deal with it for you.
you're right in this, but I think OP was trying to transfer money into his Natwest ISA rather than transferring his NW ISA elsewhere ? I could've misread it though!
Lx"Science is a wonderful thing if one does not have to earn one's living at it" Einstein 19510 -
You can invest at any time into an ISA. The tax free allowance is a maximum of £10,200 in a Maxi ISA/Stocks & Shares ISA or £5,100 in a Mini ISA/Cash ISA in any financial year.
People refer to April regularly with ISA's because this is when the new financial year begins. There is nothing to stop you opening an Alliance ISA now as long as you do not pay any funds into your existing Natwest ISA during the same financial year (2010/11).0 -
I can't believe in the few minutes it took me to compose this message you had 4 responses!! I must learn to type faster.0
-
Thank you all that replied that has made it so much clearer.
pothole0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards