Does interest payment effect subscription year?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 352 views
msallenmsallen Forumite
1.3K Posts
Eighth Anniversary 1,000 Posts Name Dropper
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I'm 99% certain I know the answer to this, but just to be sure...

I am currently paying into the Ford regular savings Cash ISA. I intend to make a last payment on 2nd April (and skip the 12th payment in May) so as not to have paid into it during the 18/19 tax year.

However interest is due to be added on or around 23rd May 2018. If I wait until after the interest is paid and then transfer it, am I correct in thinking that I will not have subscribed to it during the 18/19 year (and so be able to transfer it to a non-cash ISA, and have the freedom to open a different cash ISA during 18/19 should I want to for any reason)?

I'm pretty sure I'm OK doing this, but if not, then could I transfer it to a non-cash ISA prior to the interest being paid instead and then just withdraw the interest?



This discussion has been closed.
Latest MSE News and Guides

Card providers to reserve up to £100

When you pay at supermarket fuel pumps

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals