Cash ISA transfer

Hey all, need a little help with this.

If I transferred my cash isa (£3000) from EGG to Halifax and it completed on 20th April 09. Is my allowance for this tax year now £600? Or does transfers not count towards the yearly tax allowance?

6 Comments

it shoudnt count, because it was a transfer not a deposit, but halifax should of confirmed this with you

Original Poster

Thanks for that quick reply.

Halifax hasn't been the easiest to deal with in terms of the transfer though. Got sent some weird letters firstly saying the transfer has been accepted, then another saying that they haven't received my application form etc. I think their online system was a little shoddy too at one point where it was showing £0 allowance left, but now it's showing the full allowance.

I'll give them a ring on Monday just to make sure though.

yea thats the best thing to do, because im pretty sure you can transfer isas up to any amount even if its an amount higher than a year allowance so im guessing your not affected.

I think you have used your allowance up, this happend to me a couple of years ago.

Banned

wendyak;5487724

I think you have used your allowance up, this happend to me a couple of … I think you have used your allowance up, this happend to me a couple of years ago.


wrong.

an ISA transfer does not use up any of the years entitlement

CSIMAN is correct.
I Know as i am an IFA.
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