how the heck do i find this out
MINKATHECAT
Posts: 15
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i have moved my isa into 2 new isas for safety reasons to 2 other suppliers of isas near to home
MY DELEMA is how much can i pay in this year ,since i split them one is saying i can still pay in 20k the other tells me ,well i cant find a box that tells me.........so anywhere to find out without the tax man phone call?
MY DELEMA is how much can i pay in this year ,since i split them one is saying i can still pay in 20k the other tells me ,well i cant find a box that tells me.........so anywhere to find out without the tax man phone call?
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You can contribute £20K into an ISA in a tax year. Which tax year/s did you contribute to the ISA you moved ? Did you transfer the ISA correctly by asking the new providers to draw the money from it or did you withdraw it and pay it in yourself ?
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MINKATHECAT said:i have moved my isa into 2 new isas for safety reasons to 2 other suppliers of isas near to home
MY DELEMA is how much can i pay in this year ,since i split them one is saying i can still pay in 20k the other tells me ,well i cant find a box that tells me.........so anywhere to find out without the tax man phone call?
The first thing you need to do is to add up how much you've paid into ISAs since 6th April this year and deducting that figure from £20,000 will give you your remaining allowance.
If you had paid into your original ISA since 6th April this year, then you will have needed to ensure that those subscriptions stay together in one of the new ISAs in order not to break current ISA rules and this will be the only ISA you can continue to pay new subscriptions into for the rest of the tax year, if you have any of your allowance left.0 
.so anywhere to find out without the tax man phone call?
This forum is probably one of the best places to find out about ISA's so you have come to the right place .
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If you have split a previous years ISA you can add to one of them this tax year if you have not contributed to any other ISA this tax year. If you have split an ISA you have paid into this tax year you have broken the rules. You are only allowed to transfer the whole balance of an ISA you have paid into in the current tax year.1

DavidAC said:If you have split an ISA you have paid into this tax year you have broken the rules. You are only allowed to transfer the whole balance of an ISA you have paid into in the current tax year.1

DavidAC said:If you have split a previous years ISA you can add to one of them this tax year if you have not contributed to any other ISA this tax year. If you have split an ISA you have paid into this tax year you have broken the rules. You are only allowed to transfer the whole balance of an ISA you have paid into in the current tax year.0

MINKATHECAT said:DavidAC said:If you have split a previous years ISA you can add to one of them this tax year if you have not contributed to any other ISA this tax year. If you have split an ISA you have paid into this tax year you have broken the rules. You are only allowed to transfer the whole balance of an ISA you have paid into in the current tax year.0

ISA providers will not permit you to break the rules when they transfer an ISA for you, so you can start from the assumption that what was done was valid. If one of the two providers is showing that you can pay in less than £20k, then that is the provider you must use for any further deposits, because it is already holding current year money. If both providers are showing £20k allowance remaining and you don't have any other cash ISAs, that means you haven't paid anything in so far this tax year, so you can use either (but not both), or open and contribute to a third cash ISA if you wish.You should be able to find out from the second provider how much you can pay in, either by going through the motions of making a deposit, or contacting them and asking. Ultimately, if the first one is showing £20k, you should be safe to pay into the second either way, given what you have told us.From 6th April, these restrictions are going away and you can distribute money between multiple cash ISAs, but you will need to keep track of the total you have contributed to avoid going over the limit.2

masonic said:ISA providers will not permit you to break the rules when they transfer an ISA for you, so you can start from the assumption that what was done was valid. If one of the two providers is showing that you can pay in less than £20k, then that is the provider you must use for any further deposits, because it is already holding current year money. If both providers are showing £20k allowance remaining and you don't have any other cash ISAs, that means you haven't paid anything in so far this tax year, so you can use either (but not both), or open and contribute to a third cash ISA if you wish.You should be able to find out from the second provider how much you can pay in, either by going through the motions of making a deposit, or contacting them and asking. Ultimately, if the first one is showing £20k, you should be safe to pay into the second either way, given what you have told us.From 6th April, these restrictions are going away and you can distribute money between multiple cash ISAs, but you will need to keep track of the total you have contributed to avoid going over the limit.
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masonic said:ISA providers will not permit you to break the rules when they transfer an ISA for you, so you can start from the assumption that what was done was valid. If one of the two providers is showing that you can pay in less than £20k, then that is the provider you must use for any further deposits, because it is already holding current year money. If both providers are showing £20k allowance remaining and you don't have any other cash ISAs, that means you haven't paid anything in so far this tax year, so you can use either (but not both), or open and contribute to a third cash ISA if you wish.You should be able to find out from the second provider how much you can pay in, either by going through the motions of making a deposit, or contacting them and asking. Ultimately, if the first one is showing £20k, you should be safe to pay into the second either way, given what you have told us.From 6th April, these restrictions are going away and you can distribute money between multiple cash ISAs, but you will need to keep track of the total you have contributed to avoid going over the limit.0
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