ISA 2015 Budget Changes

Kontiki

We have a few different ISA accounts, one of them was a regular save ISA which the interest rate dropped on April 1st. On April 6th I intended to transfer it to a different ISA account we have with the same BS. Mistakenly I transferred it to a normal saving account (dumb I know as I had already done one of our accounts) The amount was £15k so I transferred it again into the account I originally intended. We probably won't be able to top up our ISA's anymore this year as nearly all our spare cash is in ISA accounts anyway.
My query is that in the new ISA rules it says that you can replace any money you take out back into an ISA, does this mean I will still have my current years ISA allowance as I took money out of an ISA then put it back in albeit via a normal saving account?

gt94sss2

Kontiki wrote: »

My query is that in the new ISA rules it says that you can replace any money you take out back into an ISA, does this mean I will still have my current years ISA allowance as I took money out of an ISA then put it back in albeit via a normal saving account?

The new rules haven't yet come into effect.

It might be possible for you to 'repair' your ISA - see 12.23 onwards of the HMRC guidance for managers.

You're probably better off discussing this with HMRC on 0300 200 3312

Regards
Sunil