Post by justuslee on Feb 28, 2018 10:10:38 GMT
The question has been raised about transferring dormant/unlent 2017/18 ISA cash from another P2P platform.
Individuals are only allowed to subscribe for one IF-ISA per tax year. So when a platform makes their HMRC subscription returns for the 2017/18 tax year - there should only be one platform making the return together with the lenders National Insurance Number.
If you have opened 2017/18 IF-ISA money with another platform, you are able to transfer the entire amount from one ISA Manager/Platform to another ISA Manger/Platform and close the account within the same tax year, but not a percentage - as this would be categorised as 2 subscribed for IF-ISA for the 2017/18 tax year which is not permitted.
Example: You have £5K in cash and £5K invested with another platform IF-ISA for 2017/18, you would need to sell/exit the £5K invested and you can then make the transfer of the £10K IF-ISA cash into your 2017/18 JustUs IF-ISA.
You can however open as many IF-ISA accounts for previous years allowances.
As an example, if you have invested "Net Subscriptions" in either cash or stocks and shares ISA's for the years below - you could actually open 6 IF-ISA's
£10,000 2012/13 - IF-ISA 1
£10,000 2013/14 - IF-ISA 2
£10,000 2014/15 - IF-ISA 3
£10,000 2015/16 - IF-ISA 4
£10,000 2016/17 - IF-ISA 5
£10,000 2017/18 - JustUs IF-ISA 6
We have received confirmation from the FCA that we can pay interest on dormant/unlent cash in the JustUs ISA accounts and JustUs regular lending accounts so your money is always earning interest in our Barclays Ring-Fenced Bank Client Accounts, therefore preventing the dreaded cash drag that niggles investors/lenders so much. This amount is currently at a market leading 1.2% p.a. for IF-ISA cash and regular cash with complete flexibility, no tie ins, no deposit limits or minimum terms. The only condition is that you must pledge to deploy the capital and choose your level of risk.
Below is a link to our JustUs ISA transfer form, you will however need to open a Regular JustUs lender account in the first instance to allow the transfer to take place. www.justus.co/invest/
www.justus.co/invest/isa_tx_application_v2.pdf
Individuals are only allowed to subscribe for one IF-ISA per tax year. So when a platform makes their HMRC subscription returns for the 2017/18 tax year - there should only be one platform making the return together with the lenders National Insurance Number.
If you have opened 2017/18 IF-ISA money with another platform, you are able to transfer the entire amount from one ISA Manager/Platform to another ISA Manger/Platform and close the account within the same tax year, but not a percentage - as this would be categorised as 2 subscribed for IF-ISA for the 2017/18 tax year which is not permitted.
Example: You have £5K in cash and £5K invested with another platform IF-ISA for 2017/18, you would need to sell/exit the £5K invested and you can then make the transfer of the £10K IF-ISA cash into your 2017/18 JustUs IF-ISA.
You can however open as many IF-ISA accounts for previous years allowances.
As an example, if you have invested "Net Subscriptions" in either cash or stocks and shares ISA's for the years below - you could actually open 6 IF-ISA's
£10,000 2012/13 - IF-ISA 1
£10,000 2013/14 - IF-ISA 2
£10,000 2014/15 - IF-ISA 3
£10,000 2015/16 - IF-ISA 4
£10,000 2016/17 - IF-ISA 5
£10,000 2017/18 - JustUs IF-ISA 6
We have received confirmation from the FCA that we can pay interest on dormant/unlent cash in the JustUs ISA accounts and JustUs regular lending accounts so your money is always earning interest in our Barclays Ring-Fenced Bank Client Accounts, therefore preventing the dreaded cash drag that niggles investors/lenders so much. This amount is currently at a market leading 1.2% p.a. for IF-ISA cash and regular cash with complete flexibility, no tie ins, no deposit limits or minimum terms. The only condition is that you must pledge to deploy the capital and choose your level of risk.
Below is a link to our JustUs ISA transfer form, you will however need to open a Regular JustUs lender account in the first instance to allow the transfer to take place. www.justus.co/invest/
www.justus.co/invest/isa_tx_application_v2.pdf