Help needed filling out ISA transfer form

MajorR

I am transfering from Barclays to A&L, the form says "My evidence of investment/passbook is enclosed"

what is it i have to enclose? (in layman's terms) only things i have from Barclays are one letter saying the account is open and one statement.

Also the form asks for cheques to be made out to A&L....blah blah, and send together with the transfer form. But my Barclays ISA doesn't have a cheque book with it? only one i have is linked to a standard savings account.

If you haven't already guessed this is my 1st year of transfering and i would appreciate some friendly advice.

cheers

TomsMom

I'm not sure if this is what it means but it is what I was told at Barclays.

When I opened my new 08/09 ISA at Barclays a few weeks ago, I asked what is the procedure for transferring my last year's Barclays ISA to a better paying provider. I was told that as from 5 April this year you now have to have a Transfer Certificate from the ISA provider who holds the ISA you wish to move and take it to the new provider i.e. ask Barclays for the certificate for the ISA you want to transfer out from them and give it to A & L.

I will be doing just this some time next month so can't yet confirm it.

Mikeyorks

I would copy the statement with your application form.

The reference to 'cheques' is surely in the part of the form relevant to Barclays? It simply instructs them that the transfer cheque for your ISA money (always done by cheque as less error prone when sending with the transfer form) is to be made out to A&L.

Baldur

TomsMom wrote: »

I was told that as from 5 April this year you now have to have a Transfer Certificate from the ISA provider who holds the ISA you wish to move and take it to the new provider i.e. ask Barclays for the certificate for the ISA you want to transfer out from them and give it to A & L.

There is no such requirement in the HMRC ISA Guidance Notes, neither is there any mention of a 'Transfer Certificate' as far as the individual is concerned.

See Appendix B of the HMRC Guidance Notes which, from 6th April 2008, merely requires you to complete an ISA transfer application.

Any contact with the old ISA provider is to be carried out by the new provider. The old provider has 5 days in which to provide any required information, relating to the proposed transfer, to the new one.

TomsMom

Baldur wrote: »

There is no such requirement in the HMRC ISA Guidance Notes, neither is there any mention of a 'Transfer Certificate' as far as the individual is concerned.

See Appendix B of the HMRC Guidance Notes which, from 6th April 2008, merely requires you to complete an ISA transfer application.

Any contact with the old ISA provider is to be carried out by the new provider. The old provider has 5 days in which to provide any required information, relating to the proposed transfer, to the new one.

Perhaps someone should tell the ISA expert who opened our new Barclays account in branch I don't know where he got his information from, I'm just quoting what we were told a couple of weeks ago. However, the link you gave does say "We recommend that managers adopt the procedures below, but they are recommendations only and not prescriptive." We will be doing the transfer next month so we'll see what happens

Sometimes these things get confusing. We are considering selling our business. Official info on the 'net regarding Capital Gains Tax says it is 18% as from recent increase announced yet our accountant has told us this is not the case and it is still 10%

Baldur

TomsMom wrote: »

However, the link you gave does say "We recommend that managers adopt the procedures below, but they are recommendations only and not prescriptive."

I wouldn't wish to be the ISA Manager which totally ignored HMRC's 'recommendations'....;) Barclays certainly wouldn't be able to require customers to approach their old (non-Barclays) ISA provider for a non-existent 'Transfer Certificate' which the old provider is not required to provide other than in response to a request from Barclays.

The Barclays ISA 'expert' is probably similar to the Nationwide ISA 'expert' who told a customer, in my presence, that transfers can take up to 60 days.......

TomsMom

Baldur wrote: »

I wouldn't wish to be the ISA Manager which totally ignored HMRC's 'recommendations'....;) Barclays certainly wouldn't be able to require customers to approach their old (non-Barclays) ISA provider for a non-existent 'Transfer Certificate' which the old provider is not required to provide other than in response to a request from Barclays.

The Barclays ISA 'expert' is probably similar to the Nationwide ISA 'expert' who told a customer, in my presence, that transfers can take up to 60 days.......

The devil in me has decided the Barclays chappy is going to get a phone call next week "as we've decided to get the ISA transfer ball rolling" :rotfl:

I'll report back with what happens

Now, just have to decide who to go with.

TomsMom

empir69 wrote: »

http://www.the-peaceful-riot.com/missions/liens/link.php?m=1&l=1&u=108&k=18mmX918Q8UhjiOufKUyNWAV4XqRl0

Perhaps I'm being thick?????

Baldur

TomsMom wrote: »

Now, just have to decide who to go with.

There's no need to contact Barclays at all (unless you want to hear their 'expert' squirm).

Just choose your new provider & complete their transfer process, they will contact Barclays.

dzug

Baldur wrote: »

The Barclays ISA 'expert' is probably similar to the Nationwide ISA 'expert' who told a customer, in my presence, that transfers can take up to 60 days.......

They CAN - just taken 3 months due to mismanagement at both ends.:mad:

Baldur

dzug wrote: »

They CAN - just taken 3 months due to mismanagement at both ends.:mad:

The 'expert' that I quoted was saying 60 days in that that was the permitted period (which it's not), not that they 'could' take up to......;)

I've had two ISA transfers go wrong over the years, for similar lengths of time as yours, but that 's far from the usual experience.