£20000 allowance gone because of transfer?

feltonam

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

gravel_2 said:

When you transfer to T212 (and this is odd, but I think an attempt to comply with the simultaneous loosening and tightening of ISA rules from April 2024) you as the user are required to specify how much money you want to transfer from the current tax year, and how much from past tax years.

Is it possible when filling out that form you accidentally told T212 you were transferring this year's money when in fact you were not?

I moved ~£30k to T212 Cash ISA, all from previous tax years, and it did not affect my current year subscription entitlement. My only guess is that they have it labelled wrong, potentially due to how you filled out the form.

If they are unable to resolve it you could always try opening up a different ISA for this year and then transferring it to T212...

I don't remember ever being asked if I deposited any money this year,when I filled in the tansfer details.

Let's see what t212 comes back with, since I have emailed and asked via chat.

Thanks.

I'm in the same situation, chatbot is useless and online form results in an automated email response that "due to high demand" I must be patient. That was a week ago, nothing yet. There is no contact phone number. 

MikMikandThriceMik

feltonam said:

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

gravel_2 said:

When you transfer to T212 (and this is odd, but I think an attempt to comply with the simultaneous loosening and tightening of ISA rules from April 2024) you as the user are required to specify how much money you want to transfer from the current tax year, and how much from past tax years.

Is it possible when filling out that form you accidentally told T212 you were transferring this year's money when in fact you were not?

I moved ~£30k to T212 Cash ISA, all from previous tax years, and it did not affect my current year subscription entitlement. My only guess is that they have it labelled wrong, potentially due to how you filled out the form.

If they are unable to resolve it you could always try opening up a different ISA for this year and then transferring it to T212...

I don't remember ever being asked if I deposited any money this year,when I filled in the tansfer details.

Let's see what t212 comes back with, since I have emailed and asked via chat.

Thanks.

I'm in the same situation, chatbot is useless and online form results in an automated email response that "due to high demand" I must be patient. That was a week ago, nothing yet. There is no contact phone number. 

Go back on the chat and hassle them. Reply to the email and hassle them. That's what I would do.

feltonam

feltonam said:

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

One company transferred 25k from old ISA provider to it.
I had not deposited anything extra this 2024 tax year yet into either company cash ISA, but new company is now saying I have used up tis years £20K allowance so cannot deposit any more money into it.
Not sure if I can still deposit into old company cash ISA still for this 2024vtax year.
Is that correct?
Thank you.

MikMikandThriceMik said:

gravel_2 said:

When you transfer to T212 (and this is odd, but I think an attempt to comply with the simultaneous loosening and tightening of ISA rules from April 2024) you as the user are required to specify how much money you want to transfer from the current tax year, and how much from past tax years.

Is it possible when filling out that form you accidentally told T212 you were transferring this year's money when in fact you were not?

I moved ~£30k to T212 Cash ISA, all from previous tax years, and it did not affect my current year subscription entitlement. My only guess is that they have it labelled wrong, potentially due to how you filled out the form.

If they are unable to resolve it you could always try opening up a different ISA for this year and then transferring it to T212...

I don't remember ever being asked if I deposited any money this year,when I filled in the tansfer details.

Let's see what t212 comes back with, since I have emailed and asked via chat.

Thanks.

I'm in the same situation, chatbot is useless and online form results in an automated email response that "due to high demand" I must be patient. That was a week ago, nothing yet. There is no contact phone number. 

Update: Received a reply to my email and all sorted within an hour of me posting above comment 

Hurri

I have the same after my transfer to t212. I checked what I put in the t212 transfer form, simply:-
Current tax year subscription: Full
Previous tax year subscription: Full

I went on chat and they asked me to confirm how much I'd actually subscribed this year with my previous provider, which I provided and they said: "thank you, I will forward this for review and get back to you in a timely manner". 12 hours later, not resolved yet...

gravel_2

You'll be fine. 

MikMikandThriceMik

Hurri said:

I have the same after my transfer to t212. I checked what I put in the t212 transfer form, simply:-
Current tax year subscription: Full
Previous tax year subscription: Full

I went on chat and they asked me to confirm how much I'd actually subscribed this year with my previous provider, which I provided and they said: "thank you, I will forward this for review and get back to you in a timely manner". 12 hours later, not resolved yet...

Apparently 212 have to wait until previous provider gives details of deposits in current year and if prev provider says there were none, or some,, then 212 updates your account to reflect that so you can see how much you are able to now deposit.

Hurri

Still not fixed, and incorrect contributions showing. Chased t212 for an update this Monday and not even got a reply. Very poor.

Hurri

Just thought I'd update you all for anyone in the same boat with t212.

Still not resolved.

They apparently need "me" to contact my old provider to get an ISA Transfer History form!

I spoke to my old provider, and they said they can't send that to customers as it contains some additional details not for my eyes. However they confirm they did send it to t212, and t212 wouldn't have been able to complete the transfer without it. My old provider also verbally confirmed the amounts to me that are listed on the form, which matches my records.

I also sent t212 a statement from my old provider showing all subscription history. But the chat just goes dead and no one replied.

So, new chat started, and I've now lodged a formal complaint with t212.

Hurri

Now resolved.