One of my ISA providers has misreported to HMRC

innovate

ponbeam wrote: »

Wouldn't both banks report the deposits? At the times they were made?

See the post from badger09 as to what banks have to report.

But to be clear: the OP never made any deposit into Metro. The ISA was transferred, which in ISA terms is fundamentally different to making a deposit.

DragonQ

dunstonh wrote: »

What you have described dosent sound like a transfer (counter credit used instead of transfer). So, that may be part of the error. Did the funds go direct from Santander to Virgin or did you draw them first and pay it to Virgin?

Banks do strange things. When I transferred into my Santander ISA, they added the funds, took them away, and then added them again, and both times they are listed as something like "CHEQUE DEPOSIT". No mention of the fact that it was a transfer, but also nothing from HMRC so I guess they declared it correctly.

poppy10_2

Yeah, banks mess up all the time. When I transferred in an old ISA to my Halifax ISA, they counted it as new money in and said I had used up all of that year's allowance. Took zillions of phone calls and trips into branch to sort out.

dunstonh

DragonQ wrote: »

Banks do strange things. When I transferred into my Santander ISA, they added the funds, took them away, and then added them again, and both times they are listed as something like "CHEQUE DEPOSIT". No mention of the fact that it was a transfer, but also nothing from HMRC so I guess they declared it correctly.

Banks ought to go back to the late 80s, early 90s style of training. Much better back then. Plus, they required staff to get the chartered institute of banking exams if they wanted to progress their career above assistant manager level.

Only problem is that people dont seem to want to pay for quality nowadays. They want cheap and unfortunately get cheap standards.