Barcleys Tax Havern ISA a question

polomint_2

Filled in the form for the isa online untill i got to this bit...




I apply to subscribe for a cash ISA for tax year 2008/2009 and each subsequent year until further notice.

You have to tick the box otherwise it wont let you continue. Can someone explain to me what this actually means? Does this mean you are signing up for Isas with barcleys for life??

Thanx in advance.

Lokolo

It won't matter, you can have them being opened each year for you but not put anything in them.

polomint_2

yes but that means you loose your allowance for that year even if you dont put anything in as you can only open up one per year even if nothings in there surely? :money:

Lokolo

No. You can open as many as you like but you can only contribute new money to one.

Mikeyorks

polomint wrote: »

Does this mean you are signing up for Isas with barcleys for life??

Thanx in advance.

No. If you don't contribute to an ISA during a financial year ... then it 'lapses'. What you have quoted is a form of words increasingly used to postpone the 'lapse' for a couple of years.

polomint_2

Thanx for that. Went into Barcleys today who confirmed the above answer. Opened my isa ready for the new tax year no problems, I didnt even have to send a cheque as i am already a customer so he just set it up to go straight from my account at the beginning of the new tax year. Painless!