Barclays Tax Haven ISA 2008/09

missyg_3

I'm planning on getting a Barclays Tax Haven one this year and putting all my previous years ones into Halifax 4yr fixed 6.2% - would welcome any thoughts/opinions?

trinidadone

missyg wrote: »

I'm planning on getting a Barclays Tax Haven one this year and putting all my previous years ones into Halifax 4yr fixed 6.2% - would welcome any thoughts/opinions?

Hey missyg, firstly the ISA for 2008/09 sounds good. in relation to the halifax, i too did consider transferring previous years to their 4 yr 6.2%, but for me, i thought 4 years is a long time to lock away. Looking back, the last yew years have all seen ISA accounts over 6%. this is also Barclays second time of offering a 6.5% ISA.

For me, I am currently putting my previous years into A+L 6.25% ISA, which will be fixed until May 2009, after that, i intend to move again. What I also like about A+L is you can add more than once.

I have not looked at Halifax, but wonder if there is a penalty if you move your savings to another ISA provider, most fixed rate seem to penalize 3 months interest sometimes.

hope this helps

bristolleedsfan

Lee_Dunford wrote: »

For me, I am currently putting my previous years into A+L 6.25% ISA, which will be fixed until May 2009, after that, i intend to move again. What I also like about A+L is you can add more than once.

I have not looked at Halifax, but wonder if there is a penalty if you move your savings to another ISA provider, most fixed rate seem to penalize 3 months interest sometimes.


I

Lee with respect u should really try and get your facts correct before u post otherwise u will merely mislead people.

As I have previously replied to someone else A+L 6.25% ISA is NOT fixed, all that is guaranteed until May 2009 is the 1% bonus.

http://www.alliance-leicester.co.uk/savings/index.asp?page=direct-isa&ct=HomepageDirectISATextSecondaryRight

Thats why IMO with more Base Rate reductions predicted in 2008 the smart people have been moving previous ISAS into a 1 or 2 year account Fixed Rate ISA. ( 3 or 4 year fixes may or may not prove to have been a smart move at a later date)

http://www.moneyfacts.co.uk/savings/bestbuys/mini-cash-isas-accepting-transfers-in.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rates-isa.aspx

http://www.abbey-products.com/product/direct-isa-squirrel/

( As far as im aware A+L unlike Nationwide,Abbey,Saffron does not guarantee to backdate interest on ISA transfer Ins)


Re: Fixed Rate Accounts : Usually the only reason for a "penalty" is if people dont conform to the full agreed period of the Fixed Term.

Transferring out at the end of the agreed fixed term period is usually penalty free.

trinidadone

Thanks for your contribution bristollleedsfan

tracker10

Hi i'm new here so be gentle with me.
My question is,i opened my ISA at local branch on 13 April 07, well i gave them a cheque on that date.I received a letter confirming my ISA it stated that it was opened on the 9 May 07 but interest would be backdated, so far so good.What date do i transfer from and if i do it before that date do i lose the bonus interest.

mary

You will not lose your bonus interest. The date your account was opened therefore was 9th May as stated on your letter. You can transfer any time you like before that if you want. Bear in mind that it will take around 1 month to happen as there is already a delay in the paper chain before your money will reach its new destination.

bristolleedsfan

Anyone who is considering opening one of these who isnt a Barclays Personal Customer might like to make an advance attempt to aquire an application form/book an appointment to see an advisor.

I went into a branch local to me, first I asked for ISA application form for 2008/09 tax year, answer i got was blank faces as if i was speaking a foreign language. :rotfl:

Next i suggested i made an appointment to see an advisor re opening an ISA on 6th April, i stressed i was happy with an appointment towards the end of March even on April 6th. Answer was a muttering about April 15th. :rotfl:

Then I explained all i really wanted was an ISA application form to take away and perhaps bring back with cheque, ID etc. Cashier answered "ah i know where they are kept " and she went off to a cabinet and handed one to me with a smile looking at the camera as she smiled. :rotfl:

I was informed that ISA applications handed in via a branch will be going off to Barclays ISA office same as with Taxbeater ISA. :eek:

voley86

Hi,
i've just been reading through the terms and conditions of the ISA and read this: (http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=14463&target=_blank&site=pfs)

2.3 The maximum sum you can subscribe is £3,000 per tax year until 5th April 2008 and £3,600 per tax year from 6th April 2008 irrespective of any withdrawals. In addition to this limit, you may also transfer the funds from an existing Cash ISA into the ISA. Annual limits are subject to review

Is this not saying you can move your current Tax beater ISA into the Tax Haven ISA??

Thanks

oldfella

look lower down in the specific terms ..
Transfers into the Tax Haven ISA of funds currently held in another ISA either with us or another ISA manager are not allowed. This condition replaces condition 2.3 of the General Terms and Conditions above.

it seems there is a drafting error at the top of the T&Cs as it refers to clause 2.2

mary

Scroll down to the bottom of the link you gave and you will see SpecificTerms for the Tax Haven ISA

2 The maximum sum you can subscribe is £3,000 per tax year until 5th April 2008 and £3,600 per tax year from 6th April 2008 irrespective of any withdrawals. Annual limits are subject to review. Transfers into the Tax Haven ISA of funds currently held in another ISA either with us or another ISA manager are not allowed. This condition replaces condition 2.3 of the General Terms and Conditions above.

No you can't!