aju
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Post by aju on Feb 22, 2020 11:11:04 GMT
Ok so I have not been with RS long enough to have more than a single years worth of ISA investment in my RS ISA account. At present I gather investment returns in the Everyday account and port it across to the ISA account. But next ISA period I may be setting up an ISA on another platform and give them a try.
With a new ISA year looming I wondered if there is anywhere in current RS screens where I may be able to see my current investment in ISA fund is available this year. I know that I can look at my ISA account and subtract the current lending from 20,000 but even that is difficult to see what I have lent - I do have my own investment spreadsheet that catches the transactions and can see what I have lent but does RS detail this presently.
Secondly Does RS know I'm in error if I lend to another ISA in 2020/21 and then inadvertently send E/D returns money to RS ISA in the same period. I'm guessing this will not happen as the initial lend item will trigger a check against current ISA in some external ISA database, well that's the assumption - I also assume I have set up the alternative ISA before doing this.
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Post by Deleted on Feb 22, 2020 11:19:39 GMT
If you click on 'Deposit' it shows the amount you can pay this year.
No, RS won't know about subscriptions to other ISAs. Each ISA provider submits a return to HMRC after 5/4 each year. It's then that subscriptions are checked eg 10k to a cash ISA, 5k to S&S ISA and 5k to IFISA is ok, but 5k to two different IFISAs in the same tax year is not ok. Subscriptions are linked to your NI number.
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aju
Member of DD Central
Posts: 3,480
Likes: 917
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Post by aju on Feb 22, 2020 11:37:52 GMT
If you click on 'Deposit' it shows the amount you can pay this year. No, RS won't know about subscriptions to other ISAs. Each ISA provider submits a return to HMRC after 5/4 each year. It's then that subscriptions are checked eg 10k to a cash ISA, 5k to S&S ISA and 5k to IFISA is ok, but 5k to two different IFISAs in the same tax year is not ok. Subscriptions are linked to your NI number. Thanks @inv11 that's a start as at least it helps me know my remaining for this year ... "Please keep in mind that your remaining ISA allowance is £xx,xxx.xx" I'm guessing if I were to lend more than 20,000 RS would stop/flag it perhaps after all I've been going through that screen since day 1 to move E/D returns since I opened the ISA side and never noticed that bit. It's amazing what I miss when I am on "autopilot" just quickly moving the money across from E/D and then getting it lent out on ISA ( To be fair still having quite large headroom amount I knew instinctively I was not going to break it this year). Perhaps RS would make it more obvious an eventually make it part of the Dashboard after all its that way on Zopa although to be fair to RS there are many things Zopa could learn from RS and I guess others but definitely not colour design though!.
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