Monument cash ISA replaceable allowance

1spiral

eskbanker said:

1spiral said:

eskbanker said:

1spiral said:

my account shows 19635 current allowance used and 365 remaining. My partners shows 20000 current years allowance remaining plus the remainder of the money withdrawn i.e. they haven't deducted any of the redeposited money.

I don't understand what you're saying there, but are there any known differences at all between the accounts and when each was funded, withdrawn, redeposited, etc?  Do you know of anything that correlates to the £365 figure, e.g. interest perhaps?

We withdrew 50K each, then subsequently repaid 50K into the account at a later date. When looking at the accounts yesterday I noticed that we both had allowances remaining (when there should be none).

In my partners case, the full 50K is remaining as being available to fund. In mine, only 365 is remaining available to fund.

That amount appears totally random and is not the amount of any interest deposit, nor as far as I can tell, the sum of any number of interest payments.

In that sense my partners is easier to explain because they just haven't subtracted any of the redeposited amount from the allowance. Mine is more difficult to understand.

If you're saying that the two ISAs show as £365 and £50K remaining, when you expect them both to be the same at zero, then I imagine that the only way of progressing the matter is to contact Monument.

That is correct. I just wondered if anyone else that had withdrawn and replaced was showing the same anomaly. I'm not too bothered about it because I know my figures are correct but if someone had done the same as us but had replaced the allowance in dribs and drabs, they may now think they can replace more funds than they are allowed to. I only noticed the error when looking at the account numbers to initiate an isa transfer so hopefully in a week or so's time the funds won't even be with Monument.

It would seem strange that both our accounts are affected but no one else is suffering the same issue.