Quick Banking ISA Question...?

Mikoyan

Mikoyan

Mikoyan

Soldato
Joined
4 Aug 2004
Posts
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Hi guys! :D planning to open an ISA, (im noob to it :o ) to open I will setup a standing order for £300 to be taken from my account every month......

so on the 10th month there will be 3000k (max for ISA?) what will happen to the other £600 that will go in for the next 2 months?

Cheers!!!! :)
 
Don't forget though, that in the "13th" month you can then start to put money back into your isa!!
 
If you have money lying around get it in your isa ASAP!
The new tax year starts on the 4th April. So you have a max of 3k to put in the next 5 days then another 3k to put in from 5th onwards.
 
touch said:
If you have money lying around get it in your isa ASAP!
The new tax year starts on the 4th April. So you have a max of 3k to put in the next 5 days then another 3k to put in from 5th onwards.
Click to expand...
Some places count clearing days as well... so you can pay in at 23:59 on the 3rd of April..... some DON'T so you have to pay.. like NOW for it to clear.
 
Does anyone know when the interest for this tax year is paid into an isa?
(Im with RBS if that makes a diff)
 
touch said:
Does anyone know when the interest for this tax year is paid into an isa?
(Im with RBS if that makes a diff)
Click to expand...
Completely depends on the account. The bank can pay whatever they fancy - all the 'ISA' status means is no tax is paid on the interest.
 
Yes the interest in my ISA is paid monthly. I believe if I had chosen the annual interest option then it is paid on the anniversary of the account being opened, but I could be wrong :)
 
I thought it was from 2007 as well :) It's an easy mistake to make, forgetting that Brown has a habit of announcing tax cuts which don't apply for years, while tax rises apply immediately...
 
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