Transfer cash ISA without extra contributions in this tax year?

grumbler

OK, thank you for your efforts.
Most likely you are right, but they have done their best to write this in a very confusing way.

masonic

grumbler wrote: »

OK, thank you for your efforts.
Most likely you are right, but they have done their best to write this in a very confusing way.

I don't disagree it is unclear when you are just trying to transfer. However, it is the standard declaration recommended by HMRC. Most, if not all, providers use it:
https://www.google.co.uk/#q=%22I have not subscribed and will not subscribe to another Cash ISA in the same tax year that I subscribe to this Cash ISA%22

isasmurf

Don't worry about it. It's standard wording that is required on any ISA application. As long as you don't put any new money in to it, in the annual end of year reporting it will be reported to HMRC as a dormant ISA.

SallySunshine

Just read this post, I am thinking of transferring a maturing ISA from Santander to a 3yr fixed ISA with the Coventy, I already have a Coventry Easy Access Issue 3 opened last June, the rate on opening was 1.3% variable and reduced to 1.15%. I assumed that since there was a new issue out, mine was now closed. but I was told it is still active so can add to it if i wish, and I might well do this year.

So reading the above answers has confused me as to what to answer if i go ahead?

masonic

SallySunshine wrote: »

Just read this post, I am thinking of transferring a maturing ISA from Santander to a 3yr fixed ISA with the Coventy, I already have a Coventry Easy Access Issue 3 opened last June, the rate on opening was 1.3% variable and reduced to 1.15%. I assumed that since there was a new issue out, mine was now closed. but I was told it is still active so can add to it if i wish, and I might well do this year.

So reading the above answers has confused me as to what to answer if i go ahead?

The only answers you can give are "yes, I accept those declarations", or "no, I won't proceed with my application". But if it's an existing ISA you opened last June, then you've already agreed to the declarations for the last tax year and each successive tax year until further notice.

mrschaucer

Just keep repeating to yourself "Transferring is NOT subscribing" and you'll be OK ...

sashasussex

I too have had a problem with the Coventry. My account is labelled 'dormant' and I tried to pay into it but can't. No explanation on site.

SallySunshine

Sasha, when did you open your account and when did you last use it.?
It seems some easy access mini isa's can be labelled dormant if you haven't accessed it for a period of time.
You may need to give them a ring.

jimjames

sashasussex wrote: »

I too have had a problem with the Coventry. My account is labelled 'dormant' and I tried to pay into it but can't. No explanation on site.

If you've not paid in recently then they may be doing you a favour. Definitely worth checking rates and if a cash ISA is still worthwhile for your situation.

eskbanker

sashasussex wrote: »

I too have had a problem with the Coventry. My account is labelled 'dormant' and I tried to pay into it but can't. No explanation on site.

There is an explanation on their site, at https://www.coventrybuildingsociety.co.uk/consumer/help/savings/faqs/i-havent-paid-into-my-coventry-isa-for-one-tax-year-or-more-can-i-still-use-it.html