S&S ISA - allowance question

YellowStarling

Evening all,

Quick S&S ISA question with regards to buying units - if I transfer cash into my S&S ISA holding account today (i.e. within 2014/15's window) and then place an 'order' for purchasing units on the same day but, given the time it takes to process the transaction, the instruction doesn't 'execute' until next year's window, from which year's allowance will the amount come from?

If it helps, I believe the instruction cannot be cancelled once ordered, and so this may suggest the order date is the date by which the allowance is calculated? Or am I wrong?

Thanks

YS

ktk

With Charles Stanley, if you open and fund the ISA that is this years allowance even if the actual unit shares are not purchased until next week.

jimjames

Only date that matters is when you put the cash into your account. What you do afterwards is irrelevant.

YellowStarling

Spot on both, thank you for the confirmation.