New 2025/26 ISA

checkly

What is the earliest possible date to open an ISA but hold off actually funding it until 2025/26?  Also got two ISAs to transfer into it from 23/24 & 24/25. 

Any suggestions greatly appreciated.

eskbanker

Funding windows vary by provider, so check the terms of any you're interested in....

dunstonh

It varies but some have it as an all year round option.  i.e. you can do it on 7th April for the following tax year.

PRAISETHESUN

First day to fund an ISA for FY2025/2026 would be the first day of FY2025/2026...

Some ISAs allow you to open at anytime and fund at anytime, whilst other have requirements to fund with x days of account opening. Depending on the account you are interested, you could in theory open it today if there are no deposit restrictions, but any deposits would need to wait until next tax year.

Kim_13

checkly said:

What is the earliest possible date to open an ISA but hold off actually funding it until 2025/26?  Also got two ISAs to transfer into it from 23/24 & 24/25. 

Any suggestions greatly appreciated.

Usually 30 days maximum, so Saturday at the earliest (that makes the 30th day the first working day of 25/26.) If the transfers are not fixes carrying penalties and the new ISA is an Easy Access, or you have 24/25 allowance remaining, you could start now. With an EA, it is only the minimum funding that needs to be made within that window and then you have secured the account and can continue funding with your 25/26 allowance. 

Fixes can have shorter funding windows, I think 14 days is the most common so you may need to wait until the last week of March.

jimexbox

Can anyone with a Kent Reliance fixed rate Isa confirm the initial funding window is 30 days, before its closed? I know you can fund up to your Isa limit throughout the fix. 

I asked their CS, received a copy and paste reply. 

Bobblehat

jimexbox said:

Can anyone with a Kent Reliance fixed rate Isa confirm the initial funding window is 30 days, before its closed? I know you can fund up to your Isa limit throughout the fix. 

I asked their CS, received a copy and paste reply. 

Out of interest, what did their copy and paste reply say?

Here's an earlier conversation where Yorkie1 reports ......

Bobblehat

Further to above ....

Although, nothing is mentioned in the KR 1 Year Fix ISA PDF Flyer regarding initial funding window, it does refer you to the General Savings T&C's and the Online Service T&C's. Looking back at notes I made when looking into the initial funding window of KR ISA's, I spotted these under the T&C's mentioned above.

From the Online T&C's ....



and from the General Savings T&C's ....



Whether KR enforces these conditions or not, I don't know. What I do know is that a search on this forum shows many people asking for clarification of KR's T&C's, so you are in good company in asking.

I guess the only real reassurance you can get is by phoning them and pressing them with detailed questions until you are confident that they are not just "cutting and pasting" their answers!

eskbanker

Bobblehat said:

Re this last quote, the pre-2024/25 regulations and guidance required reactivation, but this is no longer mandatory and so it's the ISA provider's choice whether to oblige savers to jump through that particular hoop:

1.3 Remove the requirement for an investor to make a new ISA application where an existing ISA account has received no subscription in the previous year

This change is not mandatory and, as an ISA manager, you can choose whether or not you want to request a new ISA application each subscription year or following a gap in subscriptions. Similarly, you can choose whether to require an ISA application to be completed with new terms before adopting this change, or to apply this change to your existing accounts.

https://www.gov.uk/government/publications/tax-free-savings-newsletter-11/tax-free-savings-newsletter-11

jimexbox

Bobblehat said:

jimexbox said:

Can anyone with a Kent Reliance fixed rate Isa confirm the initial funding window is 30 days, before its closed? I know you can fund up to your Isa limit throughout the fix. 

I asked their CS, received a copy and paste reply. 

Out of interest, what did their copy and paste reply say?

Here's an earlier conversation where Yorkie1 reports ......

That the minimum opening balance was 1k and could be funded throughout the tax year up to your Isa limit.

I specifically asked what the window was to make an initial deposit. If it's 30 days I'll open next week and fund in the new tax year, as I've already used my allowance this tax year. 

Yorkie1

Re. Kent Reliance, that's what it says on the general conditions, but the flyer for the 2 year fixed rate ISA when I opened it earlier this year said 30 days (see below).

I transferred 2 other ISAs into the empty ISA online, but also want to transfer in my NS&I ISA, which needs to be done by posting the form off to them.

I did that quite late - after the 14 days window but before the 30 days. Kent R have notified me that they've contacted NS&I; I assume that if I was way outside the funding window, they wouldn't be doing that and that they'd have told me I was too late.