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Alliance&Leicester Direct ISA

Hi, I would like to transfer existing cash ISA money into the A&L Direct ISA. To do this it would seem I need to open a new account for 08/09. The first page of the online application states:

'You have not contributed to another Cash or Stocks & Shares ISA in the same tax year that you subscribe to this Cash ISA'

I will be contributing to a stocks and shares isa, but I thought under the new tax rules I could open a seperate cash ISA with a different provider as long as I didn't exceed the limits.

I have tried to contact A&L to clarify but they have no customer service telephone number and the local branch has not returned my calls.

Does anyone have any advice?

Comments

  • new
    new Posts: 481 Forumite
    Part of the Furniture Combo Breaker
    etv wrote: »
    Hi, I would like to transfer existing cash ISA money into the A&L Direct ISA. To do this it would seem I need to open a new account for 08/09. The first page of the online application states:

    'You have not contributed to another Cash or Stocks & Shares ISA in the same tax year that you subscribe to this Cash ISA'

    I will be contributing to a stocks and shares isa, but I thought under the new tax rules I could open a seperate cash ISA with a different provider as long as I didn't exceed the limits.

    I have tried to contact A&L to clarify but they have no customer service telephone number and the local branch has not returned my calls.

    Does anyone have any advice?
    find-callus.GIF
    thats the number - i found them helpful
  • oldfella
    oldfella Posts: 1,534 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    the wording refers to you cant have a £7K S&S ISA, and a cash ISA.

    you can have a £3K cash and a £4K S&S, and in 2008/9 a maximum of £3.6K cash and £3.6 S&S (or a £7.2K S&S)
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