Barclays Tax Haven ISA

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  • Robusty
    Robusty Posts: 7 Forumite
    thanks.

    apparently you can have this barclays tax havens in addition to your existing isa account as well....how does that work?!! different type of isa account??
    i thought you're only allow one isa account per person? or have i missed something out??

    thanks
  • 1971
    1971 Posts: 41 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Robusty wrote: »
    thanks.

    apparently you can have this barclays tax havens in addition to your existing isa account as well....how does that work?!! different type of isa account??
    i thought you're only allow one isa account per person? or have i missed something out??

    thanks

    i dont know, anyone confirm this?
  • Sid_Harper
    Sid_Harper Posts: 1,891 Forumite
    Robusty wrote: »
    thanks.

    apparently you can have this barclays tax havens in addition to your existing isa account as well....how does that work?!! different type of isa account??
    i thought you're only allow one isa account per person? or have i missed something out??

    thanks
    You can only put money into one Mini cash ISA per tax year.

    BUT if you already have a Barclays Cash ISA account from last tax year (i.e. before 5th April 2007), there's nothing stopping you from also opening a Tax Haven ISA for this year's £3,000 limit. If you opened a normal Cash ISA elsewhere this tax year, you can't have this one as well.

    Many people get this wrong and think once they've opened an ISA account, they can only ever put any one year's allowance into that account. Not true: you can open a new account with the same or different company each year.
    The thanks button is here to the right. If you find a post saves you money, gives you useful information, or you agree with it, take a second to thank the poster! :)
    >>>
  • rodman
    rodman Posts: 168 Forumite
    First Anniversary
    I still have TAX HAVEN ISA and money is not great, should/can I move the money somewhere else?
  • jonathanen
    jonathanen Posts: 26 Forumite
    edited 9 December 2011 at 8:57PM
    Hi,

    one of the ladies from Barclays have opened Tax Haven ISA account in my local Barclays branch with my mum on 17/06/2008 for me very instantly without having any problems after I just walked in without having an appointment, or waiting for someone to see me, as I'm an existing Barclays customer, during at the time, I knew absolutely nothing about Tax Haven ISA account or their interest rates before, transferring the maximum amount of £3,600 in one go from my existing savings bank account containing both my work wages & £22,361.72 after I've excellent news from AXA Sun Life!!

    This account has no passbook, cheque book, cash / debit card facilities, nothing!! In order to get a update for checking to see how interest that I've earned each month, I had to bring in my letter that has been posted to me from barclays dated 19th June 2008 containing my Tax Haven ISA account details, as I didn't have the Online Banking facility at the time and no-one from Barclays didn't mentioned to me about Online banking at the time.

    As for the bank interest after I've opened the Tax Haven ISA account, I've received the total monthly interest of £135.95 as follows:
    • 01/07/2008 - £7.79
    • 01/08/2008 - £18.63
    • 01/09/2008 - £18.72
    • 01/10/2008 - 18.22
    • 01/11/2008 - £20.13
    • 01/12/2008 - £15.77
    • 02/01/2009 - £13.23
    • 01/02/2009 - £8.20
    • 01/03/2009 - £6.72
    • 01/04/2009 - £8.54
    From there, I've realised that the monthly interest is not very great anymore, as its going downhill, so I just closed my Tax Haven ISA account immediately on 11/04/2009 and use that £3,600 to paid my ex-girlfriend back with interest, transferring the money into her bank account in one go, as I've asked her to borrow her money as a loan in the past to use her money for paying off my 2 outstanding student loans - Student Loans Company Limited on 26/10/2007 & Career Development Loan on 07/02/2008, plus I did promised her that I'll paid her back with interest! And I just transfer the remaining total monthly interest of £135.95 back to my same existing savings bank account.

    Update:
    Now, I know why Barclays have opened the Tax Haven ISA account for me instantly because the same lady from Barclays have also opened up 2 x 6-Year Minimum Return Plan - Issue Y4 fund accounts in separate amounts: £6,000 & £3,600 to make it a total of £10,000 on the same day after my mum has forced me to open up these 6-Year plans.
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