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Post by multiaccountmanager on Oct 14, 2020 10:41:30 GMT
So far I have withdrawn all cash available from the ISA without bothering to make a transfer to another provider.
At some stage well before 5/4/21 I might wish to pay the cash back in to the FS IFISA and transfer it out again to another ISA provider, in order to preserve the tax relief.
Has anyone done this to date, or can see any reason why it wouldn't work?
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rs
Member of DD Central
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Post by rs on Oct 14, 2020 13:44:29 GMT
So far I have withdrawn all cash available from the ISA without bothering to make a transfer to another provider. At some stage well before 5/4/21 I might wish to pay the cash back in to the FS IFISA and transfer it out again to another ISA provider, in order to preserve the tax relief. Has anyone done this to date, or can see any reason why it wouldn't work? I've transferred some ifisa fundingsecure funds to another isa provider. It still works. Follow the usual isa transfer process.
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Post by fundingsecure2 on Oct 14, 2020 16:30:39 GMT
multiaccountmanager - unfortunately not. The ISA was never a flexible ISA - so what you are proposing would never have been possible. For existing available funds you have two options:
1) Transfer to your regular account and withdraw.
2) Transfer directly to another ISA manager.
The second option would preserve the tax position.
FS
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Post by multiaccountmanager on Oct 14, 2020 19:08:02 GMT
multiaccountmanager - unfortunately not. The ISA was never a flexible ISA - so what you are proposing would never have been possible. For existing available funds you have two options:
1) Transfer to your regular account and withdraw.
2) Transfer directly to another ISA manager.
The second option would preserve the tax position.
FS
Thank you for that. I shall deal accordingly.
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criston
Member of DD Central
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Post by criston on Dec 17, 2020 16:24:35 GMT
Has anyone tried a transfer lately.
Does the IFISA transfer process work OK.
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rs
Member of DD Central
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Post by rs on Dec 17, 2020 17:07:10 GMT
Has anyone tried a transfer lately. Does the IFISA transfer process work OK. Yes tried it recently and it still works. Normal ifisa transfer process applies still.
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k6
Posts: 164
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Post by k6 on Apr 2, 2021 6:14:05 GMT
Hi
Was trying to deposit into my Main Acc. what was withdrawn from ISA during 2020-2021 but its seams deposits are not available as stated on the site. And I cant seam to see an option to perhaps deposit straight into ISA to preserve the ISA Status ? Thanks for any input
Also sent email to MT around week ago regarding same matter . No replay what so ever
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Post by Ace on Apr 2, 2021 7:34:19 GMT
Hi Was trying to deposit into my Main Acc. what was withdrawn from ISA during 2020-2021 but its seams deposits are not available as stated on the site. And I cant seam to see an option to perhaps deposit straight into ISA to preserve the ISA Status ? Thanks for any input Also sent email to MT around week ago regarding same matter . No replay what so ever You can replace flexible funds back to MT. See here p2pindependentforum.com/post/424138/thread
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ilmoro
Member of DD Central
'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 2, 2021 7:47:54 GMT
Hi Was trying to deposit into my Main Acc. what was withdrawn from ISA during 2020-2021 but its seams deposits are not available as stated on the site. And I cant seam to see an option to perhaps deposit straight into ISA to preserve the ISA Status ? Thanks for any input Also sent email to MT around week ago regarding same matter . No replay what so ever FS isn't a flexible ISA so you can't replace withdrawals. I'm afraid that money has lost its tax free status. ISA transfer is the only way to withdraw cash & retain tax free status
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k6
Posts: 164
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Post by k6 on Apr 2, 2021 7:59:24 GMT
Hi Was trying to deposit into my Main Acc. what was withdrawn from ISA during 2020-2021 but its seams deposits are not available as stated on the site. And I cant seam to see an option to perhaps deposit straight into ISA to preserve the ISA Status ? Thanks for any input Also sent email to MT around week ago regarding same matter . No replay what so ever FS isn't a flexible ISA so you can't replace withdrawals. I'm afraid that money has lost its tax free status Thanks Ilmoro , I thought that might be the case. This is another knife in the back. Apart from all this MT, FS, Ly and Call circus we are expected to refrain from cash withdrawals of delipidated platform to preserve the ISA Status. I understand that this isn't flexible ISA but expecting from Investors to keep the funds in this circumstances and lack of any flexibility from .... exactly, from who ? Thanks again Ilmoro
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