jimmy_onions
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« on: Monday, April 2, 2012, 13:26:22 » |
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I didnt know how are where to search to a solution to this question I had, so why not go to your old friend the TEF for advice.....
For all you financial whizz kids...
I have a cash isa with egg, started many years back, and have put pretty much all my annual allowance in it for this tax year (which ends in a few days time).
I have also just started a 2nd cash isa with another providier (currently with £1 in!). Now can I transfer a large sum of money from the egg isa to the new one (less than £5100 obviously since that is the limit for the year), before the new tax year
OR, has my allowance for the year already been taken up with my egg account?
Cheers....
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Nemo
Shit Bacon
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« Reply #1 on: Monday, April 2, 2012, 13:28:12 » |
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You should be able to transfer from one to another, as long as it's not new money going into the ISA pot.
What you should absolutely NOT do, is withdraw the money from one and then try to pay it into another- it needs to be a straight transfer.
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jimmy_onions
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« Reply #2 on: Monday, April 2, 2012, 13:32:10 » |
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You should be able to transfer from one to another, as long as it's not new money going into the ISA pot.
even if its two different companies? What you should absolutely NOT do, is withdraw the money from one and then try to pay it into another- it needs to be a straight transfer.
oop |
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Ginginho
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« Reply #3 on: Monday, April 2, 2012, 13:34:56 » |
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Don't put all your eggs in one basket.
Hope that helps.
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tans
You spin me right round baby right round
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« Reply #4 on: Monday, April 2, 2012, 13:36:47 » |
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Speaking of isas, i paid a couple of grand into one the other day and was told i could only pay 1k cash into it per day. Pissed me right off as it meant another trip to town the next day. Youd think they would snap your arm off for a bit of dough  |
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Bob's Orange
Has brain escape barriers
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« Reply #5 on: Monday, April 2, 2012, 13:40:07 » |
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Don't put all your eggs in one basket.
Hope that helps.
What if you only have one basket? |
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we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
the gorgie boys, for Hearts in Europe.
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fittons_coaching_badge
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« Reply #6 on: Monday, April 2, 2012, 13:42:37 » |
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Speaking of isas, i paid a couple of grand into one the other day and was told i could only pay 1k cash into it per day. Pissed me right off as it meant another trip to town the next day. Youd think they would snap your arm off for a bit of dough Mugging you could be lucrative!  |
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Ginginho
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« Reply #7 on: Monday, April 2, 2012, 13:44:01 » |
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What if you only have one basket?
Don't ask me, i'm not a financial guru! |
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Flashheart
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« Reply #8 on: Monday, April 2, 2012, 13:45:03 » |
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You could make another basket
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jimmy_onions
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« Reply #9 on: Monday, April 2, 2012, 13:45:25 » |
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Gents, focus, please.
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Bob's Orange
Has brain escape barriers
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« Reply #10 on: Monday, April 2, 2012, 13:46:01 » |
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Don't ask me, i'm not a financial guru!
It sounded like you had some sort of knowledge of both eggs and baskets. Clearly I was mistaken and will seek basket advice elsewhere! |
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we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
the gorgie boys, for Hearts in Europe.
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Flashheart
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« Reply #11 on: Monday, April 2, 2012, 13:48:57 » |
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You could just leave some eggs in the fridge
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donkey
Cheers!
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He headed a football.
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« Reply #12 on: Monday, April 2, 2012, 13:50:20 » |
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Or keep the eggs in the chickens and carry them around instead.
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donkey tells the truth
I headed the ball. eeeeeeeeeeeeeee-aaaaaaaawwwwwww |
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Flashheart
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« Reply #13 on: Monday, April 2, 2012, 13:52:05 » |
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Have you never heard you should never carry all your chickens in one basket donkey?
We can tell you're no financial guru.
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Samdy Gray
Dirty sneaky traitor weasel
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« Reply #14 on: Monday, April 2, 2012, 13:55:54 » |
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I didnt know how are where to search to a solution to this question I had, so why not go to your old friend the TEF for advice.....
For all you financial whizz kids...
I have a cash isa with egg, started many years back, and have put pretty much all my annual allowance in it for this tax year (which ends in a few days time).
I have also just started a 2nd cash isa with another providier (currently with £1 in!). Now can I transfer a large sum of money from the egg isa to the new one (less than £5100 obviously since that is the limit for the year), before the new tax year
OR, has my allowance for the year already been taken up with my egg account?
Cheers....
You CANNOT contribute to more than one cash ISA in the same tax year. I know it's only £1, but you have technically broken the rules and HMRC may give you a slap on the wrist. You can, however, transfer the ISA to another provider and THEN pay into that new one. As Nemo said, you need to ask the provider for a transfer form rather than withdraw it as cash. And btw, the limit is £5,340. |
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