bababill
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Post by bababill on Feb 23, 2016 3:11:27 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April?
This way could maximise two years worth of contributions.
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ablender
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Post by ablender on Feb 23, 2016 5:34:17 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April? This way could maximise two years worth of contributions.I did not understand the logic of this. Can you please explain?
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jonah
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Post by jonah on Feb 23, 2016 5:44:20 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April? This way could maximise two years worth of contributions. Not opening, but putting in contributions to the one I've already opened yes 
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jonah
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Post by jonah on Feb 23, 2016 5:46:51 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April? This way could maximise two years worth of contributions.I did not understand the logic of this. Can you please explain? 15k in 3rd of April say. Then open an IFISA directly on the 10th of April for another 15k. Transfer in the 'old' 15k on the 12th of April and you have effectively two years allowance. All dates / values examples.
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bababill
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Post by bababill on Feb 23, 2016 5:52:58 GMT
Exactly my thoughts Jonah
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Liz
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Post by Liz on Feb 23, 2016 9:50:40 GMT
I did not understand the logic of this. Can you please explain? 15k in 3rd of April say. Then open an IFISA directly on the 10th of April for another 15k. Transfer in the 'old' 15k on the 12th of April and you have effectively two years allowance. All dates / values examples. As long as markets don't fall.
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pikestaff
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Post by pikestaff on Feb 23, 2016 9:56:09 GMT
15k in 3rd of April say. Then open an IFISA directly on the 10th of April for another 15k. Transfer in the 'old' 15k on the 12th of April and you have effectively two years allowance. All dates / values examples. As long as markets don't fall. Cash ISA, not stocks and shares! It would be fairly daft to open a stocks and shares ISA just to do this, because if you actually invested the money you'd be hit by dealing costs in and out. I am considering switching some or all of my existing S&S ISA into P2P at some point, but I am not in a hurry and I will wait and see what happens to rates before I do so.
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ablender
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Post by ablender on Feb 23, 2016 12:39:54 GMT
I did not understand the logic of this. Can you please explain? 15k in 3rd of April say. Then open an IFISA directly on the 10th of April for another 15k. Transfer in the 'old' 15k on the 12th of April and you have effectively two years allowance. All dates / values examples. Yes but this imply / (depend on) IFISA being available as soon as possible after April 6th. What if I take my P2P money, and put them in my ISA before 5th April then find that no one is ready to launch IFISA. I can end up with a couple of months with £15k earning next to nothing for all that time.
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jonah
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Post by jonah on Feb 23, 2016 20:06:26 GMT
15k in 3rd of April say. Then open an IFISA directly on the 10th of April for another 15k. Transfer in the 'old' 15k on the 12th of April and you have effectively two years allowance. All dates / values examples. Yes but this imply / (depend on) IFISA being available as soon as possible after April 6th. What if I take my P2P money, and put them in my ISA before 5th April then find that no one is ready to launch IFISA. I can end up with a couple of months with £15k earning next to nothing for all that time. You pays your money... Obviously you could see what comms has been issued by your target platform in late March.
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nush
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Post by nush on Feb 23, 2016 22:25:34 GMT
you might lose a couple of percent for a few months but over the lifetime of the isa i could still be worth it.
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Liz
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Post by Liz on Feb 24, 2016 12:31:08 GMT
Do we know for sure who is doing ISA's?
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Investboy
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Post by Investboy on Feb 24, 2016 12:39:18 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April? This way could maximise two years worth of contributions. I did just that, opened one in Lloyds with a massive 0.6% rate (0.5% of it is a 1st year bonus I think). Right now haven't transferred nothing there though, waiting till last minute.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 24, 2016 13:22:17 GMT
Is anyone considering opening a 2015/2016 Cash Isa with a view to then roll over the funds to a P2P Isa after April? This way could maximise two years worth of contributions. I would recommend choosing a Cash ISA that will become a "flexible" Cash ISA in April 2016. Not all Cash ISA's will be "flexible" Cash ISA's. The benefit of a flexible Cash ISA is that it allows you to withdraw cash and return the cash within the same tax year. This hasn't been possible up to now. It doesn't look as if many P2P platforms will be ready for IFISA's in April, so a flexible Cash ISA will allow you to invest in P2P outside of the ISA without losing your allowance, just remember to put the money back in your flexible Cash ISA before April 2017.
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mikeh
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Post by mikeh on Feb 24, 2016 14:43:38 GMT
As an alternative to a cash ISA you could open a Hargreaves Lansdown Stocks and Shares ISA . Invest in say a Property Trust Fund which typically returns around 0.5% per month at the momment. HL have no dealing fees on Funds (Unit trusts, OEICs, PAIFs etc) and most have no spreads either. I think there would be a transfer out charge to a different ISA supplier.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Feb 24, 2016 15:44:14 GMT
As an alternative to a cash ISA you could open a Hargreaves Lansdown Stocks and Shares ISA . Invest in say a Property Trust Fund which typically returns around 0.5% per month at the momment. HL have no dealing fees on Funds (Unit trusts, OEICs, PAIFs etc) and most have no spreads either. I think there would be a transfer out charge to a different ISA supplier. I do have a poorly performing HL S&S ISA (about zero growth since 2009). I will be selling down all my holdings and putting them in a flexible Cash ISA.
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