dzo
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Post by dzo on Feb 4, 2017 15:36:03 GMT
You can subscribe to any number of cash ISA accounts provided that they are all with the same ISA manager. So first check is whether the cash ISA provider you're with offers one. If not you could consider a transfer. The approximate guidance that it's only one account of each type is not quite right, just simplified to make it easier to understand. You cant subscribe to separate HTB & Cash ISA with the same ISA manager if they are separate accounts. You can subscribe to multiple products within one account, know as a split ISA (HMRC HTB ISA regs 4.7 clause V) Nationwide, Aldermore, Natwest, Ulster, Newcastle offer this. Nationwide is a flexible account, havent checked rest. According to my research Aldermore and Newcastle are also flexible, but Natwest and Ulster aren't. Slightly off-topic, but does this mean you could use your HTB ISA for a deposit then pay an equivalent amount back into the cash ISA and retain the full allowance?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Feb 4, 2017 15:59:37 GMT
Think I'd still at the moment have just a flexible cash ISA, deposit then withdraw to keep allowance, then invest back in P2P You probably know this and have just worded it badly but you cannot withdraw and reinvest, you have to request a transfer between the two providers. For current year money it has to be the lot.
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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 Feb 4, 2017 16:06:27 GMT
Think I'd still at the moment have just a flexible cash ISA, deposit then withdraw to keep allowance, then invest back in P2P You probably know this and have just worded it badly but you cannot withdraw and reinvest, you have to request a transfer between the two providers. For current year money it has to be the lot. Think you might have missed the point of 'flexible' which allows you to do exactly that. Move money in and out at will. (providing you get it back in before the 5th April each year) 
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stevio
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Post by stevio on Feb 6, 2017 19:14:38 GMT
Has anyone actually invested in any of these?
Its a lot of money to invest the full allowance in any one of these and also get it fully deployed in a reasonable time
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dzo
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Post by dzo on Feb 6, 2017 22:45:07 GMT
Has anyone actually invested in any of these? Its a lot of money to invest the full allowance in any one of these and also get it fully deployed in a reasonable time I'm holding off until mid-march in the hope there'll be more options. My current plan is to get a flexible one and put the full allowance in by 5th April, but then take it out again on 6th so I can deploy it gradually. If my understanding is correct there's also the possibility of putting everything in one ISA this year then doing several partial transfers to different IFISAs in the next tax year.
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james
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Post by james on Feb 6, 2017 23:51:20 GMT
That plan should work fine, all allowed in the regulations.
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elliotn
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Post by elliotn on Feb 7, 2017 17:14:57 GMT
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pom
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Post by pom on Feb 7, 2017 17:38:41 GMT
Wow that will really help my future IFISA strategy.... thought they'd pretty much dried up?!
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stevio
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Post by stevio on Feb 7, 2017 17:39:25 GMT
 Weird, nothing is showing up in your post for me, I quote you and it shows a picture saying "your tweet will appear here after you post"
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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 Feb 7, 2017 17:56:38 GMT
HMRC ISa manger list has been updated to show the recent platforms now plus a few other randoms authorised to provide IFISA. Ill update OP much later when I have a proper computer.
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dzo
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Post by dzo on Feb 7, 2017 19:02:30 GMT
I'm holding off until mid-march in the hope there'll be more options. My current plan is to get a flexible one and put the full allowance in by 5th April, but then take it out again on 6th so I can deploy it gradually. If my understanding is correct there's also the possibility of putting everything in one ISA this year then doing several partial transfers to different IFISAs in the next tax year. You should check the ISA provider allows partial transfers. Some don't even though it is permitted by the regulations. I didn't realise they could refuse. Is that for transferring out or transferring in? Or is it both?
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mason
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Post by mason on Feb 7, 2017 19:25:09 GMT
I didn't realise they could refuse. Is that for transferring out or transferring in? Or is it both? It can be for both, although I've only seen the absence of a partial transfer option on a transfer form into a S&S ISA. It is more common for the sending provider to refuse than the receiving provider to omit from the transfer form. Most significant cash ISA providers allow partial transfers. Intermediate transfers can be used to split the money up into individual cash ISAs if needed prior to sending to the final destination.
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Post by Matthew on Feb 8, 2017 6:51:21 GMT
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elliotn
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Post by elliotn on Feb 8, 2017 6:53:37 GMT
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markdirac
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Post by markdirac on Feb 8, 2017 11:17:45 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW.
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