Peer-to-peer lending sites: MSE guide discussion

Nardge

shoi wrote: »

Assetz. One of the founders and the MD for some years Andrew Holgate is no longer with the company. I wonder why

I'm on the brink of investing with Assetz…
If there's something shady developing now, I hope we'll get to know things in their fullness sooner rather than later...

AdrianC

shoi wrote: »

Assetz. One of the founders and the MD for some years Andrew Holgate is no longer with the company. I wonder why

Where are you getting that from?

He's still shown as a director at CoHo, although that can lag slightly.
https://beta.companieshouse.gov.uk/company/08007191/officers

Malthusian

He's been removed from their About Us page, though. https://www.assetzcapital.co.uk/about-us/

Old version

takesyourchances

Having a brain freeze, if I have withdrawn from my IFISA ISA deposited funds this tax year, does that bring my allowance back up of my overall ISA's.



Say I took out £2000 from my IFISA I deposited this tax to my bank account, would that £2000 return to my overall ISA allowance and and could it be added to my S&S ISA?


ISA space is getting lower adding to my S&S ISA so trying to work this out. Thanks.

Nardge

takesyourchances wrote: »

Having a brain freeze, if I have withdrawn from my IFISA ISA deposited funds this tax year, does that bring my allowance back up of my overall ISA's.



Say I took out £2000 from my IFISA I deposited this tax to my bank account, would that £2000 return to my overall ISA allowance and and could it be added to my S&S ISA?


ISA space is getting lower adding to my S&S ISA so trying to work this out. Thanks.

Provided it is removed from this year's allowance (2018/2019), my understanding is that you can add it to any of the other ISAs (Cash, Help to Buy, Lifetime, S&S). What matters is that the overall total across your 2018/19 ISAs does not breach £20,000...


With Kind Regards

takesyourchances

Nardge wrote: »

Provided it is removed from this year's allowance (2018/2019), my understanding is that you can add it to any of the other ISAs (Cash, Help to Buy, Lifetime, S&S). What matters is that the overall total across your 2018/19 ISAs does not breach £20,000...


With Kind Regards

Thanks very much, yes it is from this years 2018/19, I have withdrawn it from the IFISA so wanted to double check about adding it to my S&S ISA.



Thanks again as looking what else I can add per month until the new tax year with what allowance I have left and won't go over the 20K.

soulsaver

I doubt you can add it directly to your S&S ISA.

If it works the same as a flexible cash ISA you'd have to repay it to the IFISA account you withdrew it from, and then get the S&S ISA provider to transfer it from that account.

Nardge

soulsaver wrote: »

I doubt you can add it directly to your S&S ISA.

If it works the same as a flexible cash ISA you'd have to repay it to the IFISA account you withdrew it from, and then get the S&S ISA provider to transfer it from that account.

Yes, that’d be the other prerequisite: the transfers you make between ISAs would have to be made via the standard ISA Transfer Forms, from your IFISA to your other ISAs. I think all IFISAs are flexible so I don’t think it should be an issue adding the £2000 back to your IFISA, in order to transfer it over to your S&S ISA. Apologies for the oversight and not mentioning that...

takesyourchances

Thanks for the updates that helps

masonic

Nardge wrote: »

Yes, that’d be the other prerequisite: the transfers you make between ISAs would have to be made via the standard ISA Transfer Forms, from your IFISA to your other ISAs. I think all IFISAs are flexible so I don’t think it should be an issue adding the £2000 back to your IFISA, in order to transfer it over to your S&S ISA. Apologies for the oversight and not mentioning that...

You should have stuck to your guns. Current year ISA subscriptions flexibly withdrawn can be repaid into any current year ISA subject to the one ISA of each type rule. There is no need to replace current year money to an IF ISA and then use the ISA transfer process to transfer it to a S&S ISA. Withdrawing from IF ISA and repaying into S&S ISA is fine - in fact I've done just that during this tax year.

https://www.gov.uk/guidance/manage-isa-subscriptions-for-your-investors
(long page with few bookmarks, so you'll have to search for the relevant text)
"Withdrawals of current year subscriptions, can effectively be replaced in any current year ISA, but cannot breach the ‘one ISA of each type per tax year’ rule."

But:
"Replacement of flexible ISA previous year funds must be made to the account from which the withdrawal was made, and in the same tax year."
So don't try to do this with previous year subscriptions.