Barclays Tax Haven ISA 2008/09

trinidadone

Uruk_Hai wrote: »

Thanks for the above advice and suggestions, after reading the above I'm thinking of transfering my tax beater to the Abby one that is listed as there is a Abbey branch right next to Barclays which is handy for me ! Sorry but I've got another question (or two), if I wish to transfer I'm assuming that its best to wait untill my current one has matured (Is this a year from the date of opening ?) and I'm guessing I just go into Abbey and explain that I have a current ISA that I wish to transfer to them and then go to Barclays with the details of the new account and let them do the rest ? I'm also guessing that if I do this I will lose no interest and still be able to open a Barclays tax haven ISA for the 2008/2009 year ?

Sorry to be going on but for years I've been happy just to leave my savings in any old savings account so this is a bit of a steep learning curve for me.

Thanks again :T

Dear Uruk,

glad you found the advice helpful. I see you are thinking of the 6.25% Abbey, sounds good. Never say sorry about asking questions on here, thats what this site is all about. Yes you really should wait the full 12 months before trransferring your curent barclays ISA, it makes sense anyway, and yes, give the new details to the new provider for transfering. You can fill out a transferr form with your new provider.

Lastly, yes you can still open a ISA for the new financial year with Barclays, if you have not already, take your account number with you when you open and some form of id.

Once again, never apologise for "going on" the site is to healp one another, good luck

bristolleedsfan

Lee_Dunford wrote: »

Yes you really should wait the full 12 months before trransferring your curent barclays ISA, it makes sense anyway,

If someone waits the full 12 Months before applying to transfer their ISA out of Barclays they stand to be on Taxbeater Rate Minus 1% during the transfer out process which could be up to at least 30 days and may be longer with an already reported transfer out Backlog at Barclays.

Being as Barclays Taxbeater only pays an applied rate of 6.31% ( 6.50% AER) transferring out early to a 6.25% variable rate or 6.15% fixed rate involves a relative negligible interest difference for the time involved.

In the case of the latter transferring out early could be the difference between getting the 6.15% Fixed rate and not getting it.

trinidadone

well done Bristal

trinidadone

i am going to visit my local Barclays branch in the morning to open a 2008/09 ISA, wish me luck as somehow I dont think it would run smoothly as expected.

I will let you know my experiences

bristolleedsfan

Lee_Dunford wrote: »

i am going to visit my local Barclays branch in the morning to open a 2008/09 ISA, wish me luck as somehow I dont think it would run smoothly as expected.

I will let you know my experiences

U will be applying in advance not "opening".

Barclays priority is 2007/08 applications and other tasks that are current not applications that cant be processed for nearly 4 weeks. :cheesy: :cheesy:

Uruk_Hai

I'm gutted, I've just looked at the paperwork for the tax beater ISA and according to that I didnt open it untill the 21st May. :mad: I'm gonna go and apply for a tax haven ISA today with new money but now I realy dont know what to do about my tax beater ISA.

seagles_2

Took 10 minutes with the advisor to open 2008-2009. She tells me that they have already had feedback from ISA centre of delays in setting up 2007-2008 Tax Haven ISA's although they have employed additional staff to meet the expected demands. Hopefully my 2008-2009 will be up and running for the new financial year. So get in early.......

Raptor:rotfl:

seagles_2

Uruk Hai, mine says 23 April 2007 so additional 1% of the TAX beater ends then. As I expect there to be major delays in Barclays with this new offering I have initiated transfer today to A&L at 6.25% (guaranteed till May 2009).

Raptor.:rotfl:

mary

seagles wrote: »

Took 10 minutes with the advisor to open 2008-2009. She tells me that they have already had feedback from ISA centre of delays in setting up 2007-2008 Tax Haven ISA's although they have employed additional staff to meet the expected demands. Hopefully my 2008-2009 will be up and running for the new financial year. So get in early.......

Raptor:rotfl:

It may be up and running but with no money in it until April 6th, that's the first date money can go in for the 08/09 tax year.

bristolleedsfan

mary wrote: »

It may be up and running but with no money in it until April 6th, that's the first date money can go in for the 08/09 tax year.

Seagles application is not "up and running" as he/she says Barclays have already got a backlog with 2007/08 applications ( these will be Barclays priorities before they open any for the 2008/09 year)

All the posters are doing is same as last year seeing an advisor who is taking their application forms and they will go in a pile somewhere to be dealt with after both April 6th and after all 2007/08 applications have been processed.

Personally im gonna wait to see whats on offer everywhere at the end of the month before i make any decisions.

If i do go for Barclays a repeat performance of Taxbeater ISA would make me :j. ( Got 6.3%/6.5% on 2999 on 2 accounts for six weeks at the same time. )

While Barclays are saying they are taking on more staff on this year what they will have this year that they didnt have last year is countless transfer out applications.