pom
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Post by pom on Apr 6, 2016 14:19:50 GMT
When I got an email from ABG a while ago saying people would be able to open an IFISA with them from today but couldn't invest in any projects until later I did wonder what the point would be....but it seems they will pay 2% on any money until that time.....and if you transfer it away before that time it seems you still get your 2%. For anyone planning to open a cash ISA while they wait for the IFISAs to go live this is potentially very tempting....
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ben
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Post by ben on Apr 6, 2016 20:18:07 GMT
does seem quite interesting although I will not bother could be quite a few people that will
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shimself
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Post by shimself on Apr 6, 2016 20:52:05 GMT
Better 4% taxed from AC than 2% tax free from AB
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pom
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Post by pom on Apr 6, 2016 21:15:31 GMT
Yeah personally I don't see the point in trying to second guess when IFISAs will be available - cross that bridge when it happens. But I know a lot of people have been considering getting a cash ISA to transfer later etc. I think it's quite a clever way for ABG to get people early tho, specially with so many platforms having to delay.
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ben
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Post by ben on Apr 15, 2016 11:52:07 GMT
Do you plan on using this years full allowance to as taking it out in the long run might not be benificial
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 15, 2016 11:56:59 GMT
I have an old Santander isa which had no funds in but I topped it up to the full amount before the end of the tax year. I was hoping there would be something available sooner rather than later but it looks like we're in for a long wait. I'm tempted to transfer my Santander isa which is getting 0.25% into the Abundance isa. It would only be temporary until the likes of AC, MT, SS and RS release theirs. Abundance debentures are too long for me (although I have some in the 1 year wind turbine). I'm also tempted to just pull the money out of the isa and plough it back into the 10% -12% ers.  Transfer it to a Flexible ISA (which the Abundance one is but there are others) and then you have both options. As its effectively cash, Abundance ISA has full £75k FSCS protection.
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nush
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Post by nush on Apr 16, 2016 9:51:09 GMT
if i transfer in previous years cash isa allowance into this then later this year want to split it over several ifisa's with different platforms will i be able to.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 16, 2016 12:50:20 GMT
if i transfer in previous years cash isa allowance into this then later this year want to split it over several ifisa's with different platforms will i be able to. Yes according to their T&Cs 7.2 Transfers to third party ISA Managers
You should note that the ISA Regulations only allow all of the current Tax Year Subscriptions to be transferred, though Subscriptions for previous Tax Years can be transferred in whole or part.
I would suggest dropping them an email if not clear on any points, particularly the 2% interest which isnt covered in their T&Cs as its a temporary offer until inclusion of debentures is authorised or not. Their FAQ is OK but not 100% clear on some things.
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nush
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Post by nush on Apr 16, 2016 13:07:41 GMT
thanks ilmoro , i have emailed them, opened an account and i am awaiting an email regarding an isa, the reply i got says the cash is protected upto £75000, thats up until debentures are allowed inside the isa, i can also withdraw and reinvest cash in the same tax year ie flexible isa, also no charge for transferring in or out of the isa. so for me i can move previous years cash isa's, then move some of that cash to other investments outside of abundance and leave some in the normal abundance account to be invested before the isa becomes available. sounds like a win win to me, am i missing something. ps i also may be able to transfer debentures straight into this years isa but not sure about that yet. |
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ilmoro
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Post by ilmoro on Aug 9, 2016 16:09:49 GMT
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