How can i find out if i've maxed Cash ISA allowance for the F/Y?

jungleboy123

Long story short, i've been moving my main Cash ISA to various providers this year as the rates keep dropping and i keep using up all the new account bonuses, until they drop significantly. I also have a Lifetime ISA.

I forgot how much i deposited this year because not all the providers track what i put in, and i've taken some out and put it back in on flexible ISAs too.

Any help would be good!

Thanks.

eskbanker

There's no central registry to access - ultimately each provider will report your current year subscriptions to HMRC in the summer, so if you're over the limit you won't get to find out via that route until it's too late.

If you're using the ISA transfer process between providers then the receiving one should be aware of how much of the balance relates to current year subscriptions, and update your remaining allowance accordingly, but multiple flexible withdrawals may complicate this, especially if not repaid prior to transfers.

I strongly suspect that the only way to establish the situation definitively is to go through all of your records and follow the money…

flaneurs_lobster

Think you are on your own here, unless you have tracked the funds in'n'out of those different ISAs, noting which are transfers and which are new subscriptions or withdrawals, I think you may be stuffed.

clairec666

Hindsight is a fine thing, but it's a good idea to keep a spreadsheet of ISA deposits/withdrawals/transfers, especially if you're moving your money around quite a lot.

Hopefully you've got a record of which providers you had an account with, and where possible log in and check past transactions. Might be difficult if you used app-only providers and have since closed the account.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81880470#Comment_81880470

There's some foresight here too, as well as hindsight - OP has posted in previous years about not having kept track of accounts, incentives, etc, and has been advised to improve record-keeping!

badmemory

At least one bank has an ISA account that you can withdraw & replace money, provided it is in the same tax year, without it affecting your ISA allowance.

With the cash ISA limits reducing in the future you may need to keep a sharper eye on your transactions.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81880596#Comment_81880596

You're describing flexible ISAs, which are offered by many institutions, seemingly including some that OP has used.

jungleboy123

https://forums.moneysavingexpert.com/discussion/comment/81880483#Comment_81880483

indeed… I have been trying. I managed to deal with #1 i.e merging all my historic isa crubles of cash laying around to a single place. now working on #2 how to manage moving it about!!!!