I have a matured Tessa in Nationwide. Since I don't have any isa's does this mean I should put the matured tessa into an isa instead of a Toisa. Are Toisa's for people who have already used up their isa allowance? (I have less than £3000 in the matured tessa). I have read all the info on here but am still a bit confused, so if anyone could tell me what to do with it and where I'd be grateful. x
I have TOISA which is nearly half way through its shelf life but the provider have now ordained immortality on it, i.e. it will not last for 5 years but forever (if Ind. Rev. don't change the rules). As I am not overly excited at the interest rate offered, I was thinking about transferring it but am I limited to one 9 grand I.S.A. or could I plump for 3 3 grand I.S.A.s with different providers ? I have contacted the Revenue about this but currently I am being passed from pillar to post so I thought I'd do better asking the experts. (Flattery is alright as long as you don't inhale)
So, in answer to your question, you could invest 3 grand with 3 different providers (in Mini Cash ISAs) if you wanted to but I'm not sure why you would want to?
Is this right? I assume you have to transfer a TOISA in one piece because the rules concerning 'ISA-transfers' relates to being able to split contributions from different tax years only. But the 'Tessa' from which the TOISA came wasn't an ISA at the time any of these initial contributions were made, and so would just become one 'single-year' contribution as far as ISA rules are concerned on marturing and being re-invested into a TOISA.
if you are only allowed to have one TOISA you could not split it across two or more 'mini-TOISAs' anyway?
Use one-by-one to get lots of discounts
Shift existing card debt to 0% interest for up to 31 months
What this means for you