ashe
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Post by ashe on Jun 17, 2017 13:18:26 GMT
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aju
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Post by aju on Jun 17, 2017 14:27:07 GMT
The other complication is that its max £20,000 per year across the piece so its not possible for them to know what's been put into each one assuming you had more than one as they will not be managing them all. Only thing they could be certain of is that £20,001 would be more than a years worth. I think the HMRC is getting a better handle on this stuff since the banks were taken from the tax collection. HMRC can now see what your investments are accruing and I assume they can see the ISA ones as well. If you get it wrong the HMRC will come knocking I guess. ;-) In my case this year I am only in the zopa ISA, previous ISA's were locked into a 12 mth best fix elsewhere as the ZopaISA was dragging on.
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ashe
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Post by ashe on Jun 17, 2017 15:23:08 GMT
Yes, that's why I was saying Zopa may want people to specifically make ISA deposits themselves, to avoid people accidentally breaching the combined yearly ISA limit with automated depositing of repayments.
It does seem from the Zopa website that is the case:
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aju
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Post by aju on Jun 17, 2017 16:13:07 GMT
ah I see what you are saying ashe although I'm not sure that that is actually zopa controlling the limits etc. What I will say is that autolend does work for new money but I think there is a distinction within the holding account between money coming in from other zopa sources and from outside zopa. In my case I transferred in £1990 from my bank (the amount limits the spread of loans to £10/per loan) and it arrived 4 hours later and by next day it was moved to my ISA account from holding account without me touching it. Zopa will assume this is new lending for this year and keeps a count. Its an interesting area I think and one that I personally will not be trying to get around as the last thing I want to do is annoy MR/s customs person. ;-) |
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