Kent Reliance 1 year fixed rate ISA

subjecttocontract

I opened this ISA last December. Ive read the t&c's for the Kent isa and ask am I understanding them correctly ? They seem to permit additional deposits up to the annual limits. So, from April 6th can  I deposit another £20k into the account ?

soulsaver

What do the words say in the T&Cs? Do the T&Cs specific to the account refer to a specific period ie tax year 23/24?  

subjecttocontract

I have an issue 85 account made up entirely of prior year transferred funds.
It says....
' Additional deposits can be made subject to HM Revenue & Customs (HMRC) limits. The maximum you can subscribe to a cash ISA in the current 2023/24 tax year is £20K. Additional deposits can be made by cash, cheque or bank transfer.'

soulsaver

If the ac specific terms are headed 'Tax Year 23/24' at the top, what you are certainly allowed to do, as stated in the those terms, applies to 23/24 - but you may well be allowed to add after April 5 - if so, those funds would be from the 2024/25 allowance, obviously.

Maybe worth confirming with them.

I'm guessing you've used your 23/24 allowance elsewhere?
 

subjecttocontract

Yes that's right I've already used my 2023/24 allowance. I'm just looking for somewhere to put my allowance from April 6th. I'll post the details here if I get a positive response from Kent BS.

refluxer

Judging by the statement "Top up anytime within ISA limits" in the Key Facts section of their fixed rate ISA product page, you are indeed able to continue to make additional deposits throughout the duration of the fixed rate period (much like the fixed rate ISA accounts offered by Barclays and Shawbrook), subject to the annual £20k ISA allowance. The (common) 30 day funding window only applies to the receipt of transfer-in requests.