Missed the deadline to pay into cash ISA - now what?

selfishshellfish

Because of a series of hilarious (not) delays caused by Halifax, the payment I attempted to make into my Santander cash ISA took ten days and missed the deadline. :mad:

What happens to the money now? Does it just sit there making taxable interest, or does it count towards the current year's ISA allowance?

Lokolo

It will count towards this year's allowance.

Paul_Herring

Was the paperwork was filed and completed before the 6th?

bigfreddiel

selfishshellfish wrote: »

Because of a series of hilarious (not) delays caused by Halifax, the payment I attempted to make into my Santander cash ISA took ten days and missed the deadline. :mad:

What happens to the money now? Does it just sit there making taxable interest, or does it count towards the current year's ISA allowance?

lesson learned - don't leave it till the last minute
lesson learned - don't bank with santander

on the bright side - youv'e filled (i hope) your 2011/12 isa early rather than waiting till april 2012! well done - just done mine wit stroud and swindon - dead easy otc with a pass book -ahhh the good old days and its 5%!

fj

selfishshellfish

Paul_Herring wrote: »

Was the paperwork was filed and completed before the 6th?

Yes, the ISA was opened well before the 6th, as was the request to move the money from my current account to my ISA.

Does that make a difference?

selfishshellfish

bigfreddiel wrote: »

lesson learned - don't leave it till the last minute
lesson learned - don't bank with santander

on the bright side - youv'e filled (i hope) your 2011/12 isa early rather than waiting till april 2012! well done - just done mine wit stroud and swindon - dead easy otc with a pass book -ahhh the good old days and its 5%!

fj

Ha ha - the HUGE irony of this is that this time it was Halifax who stuffed up and not Santander. Each time I get a payment in of more than a couple of quid, or try to move more than a hundred or so pounds out, they freeze my account. And their transfers take DAYS. I just moved some money to the ISA from my First Direct account to top it up to the 2011/12 maximum and it took TWO HOURS.

I opened the Halifax account to use for my part-time business income and I've had nothing but massive hassle from them ever since.

Rant over. You're right - I'm going to focus on the bright side instead! :j

Paul_Herring

selfishshellfish wrote: »

Yes, the ISA was opened well before the 6th, as was the request to move the money from my current account to my ISA.

Does that make a difference?

It "should" - the (your) request was clearly designed to be deemed to be before the tax year end.

That it didn't happen is the fault of someone[1]. There is a *remote* chance it could be attributed to last tax year rather than this tax year.

However, determining whether it should is something we, on here, can't tell. It'd need, at least, a detailed timeline, and even then it would only allow us to give an indication to your chances of success to determining the tax year.

[1] Be prepared to either (a) be blamed as that someone, (ii) actually *be* that someone.