oldtimer
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Post by oldtimer on Nov 30, 2022 17:38:56 GMT
I haven't tried it, but I would expect that flexible ISA withdrawals would show up on the Wallet Transfer page. The bit where it says " Your remaining ISA allowance is £xx,xxx" for the ISA Current wallet. I.e. the number will increase when any flexible withdrawals are made, reduce when deposits are made, and reset to £20,000 on 6th April each year. At least that's how it's handled on other platforms I use. I don't have any cash in that wallet right now, but I'll test it next time I get an ISA repayment and report back if no-one else beats me to it.
Withdrew some money from my ISA and it doesn't work , ISA allowance is still showing as 20k. Either the ISA isn't flexible or they haven't implemented correctly. The money came from the ISA-previous wallet not the ISA-current wallet but I don't see what difference that should make.
Suggest you contact hello@kuflink.com and tell them. They assured me that it was now flexible as per my previous post. Let us know what they say.
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morris
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Post by morris on Jan 2, 2023 10:29:32 GMT
Anyone know why Kuflink don't permit faxed ISA transfer requests? Most other P2P companies do. The potential time saving with postal delays and strikes, along with weekend and holidays are significant. (I'm really posting this in the hope that Kuflink will note).
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oldtimer
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Post by oldtimer on Jan 2, 2023 12:50:55 GMT
Anyone know why Kuflink don't permit faxed ISA transfer requests? Most other P2P companies do. The potential time saving with postal delays and strikes, along with weekend and holidays are significant. (I'm really posting this in the hope that Kuflink will note). They do accept isa transfer forms that are scanned and emailed. I did this a few weeks ago after emailing them to ask if this was ok and they said yes.
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scooter
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Post by scooter on Jan 2, 2023 16:00:59 GMT
Anyone know why Kuflink don't permit faxed ISA transfer requests? Most other P2P companies do. The potential time saving with postal delays and strikes, along with weekend and holidays are significant. (I'm really posting this in the hope that Kuflink will note). They do accept isa transfer forms that are scanned and emailed. I did this a few weeks ago after emailing them to ask if this was ok and they said yes. They certainly do accept emailed scanned copies. Maybe they just don't have a fax machine .....
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morris
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Post by morris on Jan 2, 2023 19:27:13 GMT
I did mean scanned and emailed not faxed. Thanks for replies.
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Post by birdie on Feb 1, 2023 10:16:52 GMT
Only just noticed the ISA rates have gone up, it says a limited offer until 30/5/23 but could close earlier. 6.5% 1 year 7.5% 3 year 8.08% compounded. 8.25% 5 year 9.73% compounded.
It's worth thinking about re-terming your existing ISA if you have one to get these new rates.
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rscal
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Post by rscal on Feb 1, 2023 10:54:31 GMT
Only just noticed the ISA rates have gone up, it says a limited offer until 30/5/23 but could close earlier. 6.5% 1 year 7.5% 3 year 8.08% compounded. 8.25% 5 year 9.73% compounded. It's worth thinking about re-terming your existing ISA if you have one to get these new rates. You spotted this just ahead of me. My ISAs are already 5 year but come April 6th there is a window of opportunity
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Post by Ace on Feb 1, 2023 15:52:01 GMT
Only just noticed the ISA rates have gone up, it says a limited offer until 30/5/23 but could close earlier. 6.5% 1 year 7.5% 3 year 8.08% compounded. 8.25% 5 year 9.73% compounded. It's worth thinking about re-terming your existing ISA if you have one to get these new rates. If you're using these rates to compare against rates elsewhere it's important not to be fooled by the higher figures. They are NOT compound rates. The 3 year product is 7.5% compounded for 3 years, and the 5 year product is 8.25% compounded for 5 years. The higher figures quoted are the total interest generated divided by the number of years invested. This is a misleading way of calculating an average rate that no-one else in the industry uses. So don't use these to compare with products elsewhere.
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benaj
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Post by benaj on Feb 1, 2023 16:24:51 GMT
Could somone explain why the SIPP auto is only 3% while IFISA offers higher than 3%?
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Post by Ace on Feb 2, 2023 17:42:37 GMT
I haven't tried it, but I would expect that flexible ISA withdrawals would show up on the Wallet Transfer page. The bit where it says " Your remaining ISA allowance is £xx,xxx" for the ISA Current wallet. I.e. the number will increase when any flexible withdrawals are made, reduce when deposits are made, and reset to £20,000 on 6th April each year. At least that's how it's handled on other platforms I use. I don't have any cash in that wallet right now, but I'll test it next time I get an ISA repayment and report back if no-one else beats me to it.
Withdrew some money from my ISA and it doesn't work , ISA allowance is still showing as 20k. Either the ISA isn't flexible or they haven't implemented correctly. The money came from the ISA-previous wallet not the ISA-current wallet but I don't see what difference that should make.
You're right. I tried to do the same. To cut a long story short that's taken a very long time to get to the bottom of... Kuflink now tell me that their account is not set up for flexible ISAs for previous tax years. I.e. they seem to have implemented a semi-flexible ISA, in that they allow you to flexibly return funds extracted from the current year's ISA allowance, but not for precious year's funds. I'm not sure if this semi implementation is even allowed, as i would have thought that ISA flexibility has a specific meaning within the rules. However, I've lost the will to investigate any further. To me, their half-arsed implementation is just silly, and indicates that they don't really understand the concept. Personally, I'll just treat Kuflink ISAs as being non-flexible.
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Post by overthehill on Feb 2, 2023 21:01:39 GMT
Withdrew some money from my ISA and it doesn't work , ISA allowance is still showing as 20k. Either the ISA isn't flexible or they haven't implemented correctly. The money came from the ISA-previous wallet not the ISA-current wallet but I don't see what difference that should make.
You're right. I tried to do the same. To cut a long story short that's taken a very long time to get to the bottom of... Kuflink now tell me that their account is not set up for flexible ISAs for previous tax years. I.e. they seem to have implemented a semi-flexible ISA, in that they allow you to flexibly return funds extracted from the current year's ISA allowance, but not for precious year's funds. I'm not sure if this semi implementation is even allowed, as i would have thought that ISA flexibility has a specific meaning within the rules. However, I've lost the will to investigate any further. To me, their half-arsed implementation is just silly, and indicates that they don't really understand the concept. Personally, I'll just treat Kuflink ISAs as being non-flexible.
Yep. This is just asking for trouble. Investors will withdraw their previous years ISA transfers out of Kuflink by mistake and get extremely pissed off. I'm sure they will rectify it. I've already withdrawn money that I can't reinvest so I put it elsewhere.
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rscal
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Post by rscal on Mar 11, 2023 20:54:26 GMT
Just want to check whether anyone knows where KUF reports the total of ISA interest received or accrued? Ideally within tax years for sake of estimating total income. Thanks
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rscal
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Post by rscal on Mar 12, 2023 15:16:52 GMT
Just want to check whether anyone knows where KUF reports the total of ISA interest received or accrued? Ideally within tax years for sake of estimating total income. Thanks (Answer to my own question) 1) Select "kuflink.co.uk/account/transactions" and filter by the "wallet" option. Select start date of current tax year for "from date" and expand the list until everything is displayed. Now CTRL 'F' for 'interest and add up on a calculator. 2) For the accrued interest go to "portfolio"(wait ..wait ..wait ..make and drink coffee ..open mail) But anyway, when it does finally display, you have to expand the number of loans to the maximum to hopefully display everything on one screen and use CTRL 'F' again to just highlight the "accrued interest", click through them one by one and use calculator to add these up.
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scooter
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Post by scooter on Mar 12, 2023 21:56:54 GMT
Just want to check whether anyone knows where KUF reports the total of ISA interest received or accrued? Ideally within tax years for sake of estimating total income. Thanks (Answer to my own question) 1) Select "kuflink.co.uk/account/transactions" and filter by the "wallet" option. Select start date of current tax year for "from date" and expand the list until everything is displayed. Now CTRL 'F' for 'interest and add up on a calculator. 2) For the accrued interest go to "portfolio"(wait ..wait ..wait ..make and drink coffee ..open mail) But anyway, when it does finally display, you have to expand the number of loans to the maximum to hopefully display everything on one screen and use CTRL 'F' again to just highlight the "accrued interest", click through them one by one and use calculator to add these up. Any reason why you don't just download the reports into excel.....
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rscal
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Post by rscal on Mar 13, 2023 12:39:25 GMT
(Answer to my own question) 1) Select "kuflink.co.uk/account/transactions" and filter by the "wallet" option. Select start date of current tax year for "from date" and expand the list until everything is displayed. Now CTRL 'F' for 'interest and add up on a calculator. 2) For the accrued interest go to "portfolio"(wait ..wait ..wait ..make and drink coffee ..open mail) But anyway, when it does finally display, you have to expand the number of loans to the maximum to hopefully display everything on one screen and use CTRL 'F' again to just highlight the "accrued interest", click through them one by one and use calculator to add these up. Any reason why you don't just download the reports into excel..... It's CSV only and I don't use excel.
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