Okay,

So I procrastinated and left it until the last minute. Whoops.

On Monday (the 4th), I transferred some money into an ISA, trying to use my allowance, obviously.

Today (the 6th), my ISA is showing it as transferred. Yesterday it wasn’t.

Do ISA/tax year rules count from when I’ve funded the account (the 4th), or when the funds have arrived (today)?

Obviously I’d rather it was the former 🙂

im guessing its whenever you opened the isa, did you do it in branch?

Depends on the provider – I would guess that it’ll be the date the funds are credited into the ISA account. Have a word with them and see if they will change the dates.

im guessing its whenever you opened the isa, did you do it in branch?

Funding an ISA opened in a previous tax year…

I’d say you have just paid in using your 2011-2012 allowance. I doubt if your ISA provider will be willing to move the dates around, but you never know…

not a bank of scotland or affiliate account was it …. bunch o robbin see you next tuesdays !

I’d say you have just paid in using your 2011-2012 allowance. I doubt if your ISA provider will be willing to move the dates around, but you never know…

As I’d probably want to transfer it out, I suspect not 🙁

Suspect it’s the date the money arrived into the ISA, not the date it left your donor account. Pretty sure bank won’t turn a blind eye, it’ll be automated so probably you’ve just dumped a big amount into your 2011/12 isa.

When you opened the ISA is irrelevant…

And if you are looking to transfer it out, obviously bear in mind it still counts towards your allowable amount you can pay in for the year, regardless of whether you took it out 10 seconds later.

Sounds like you’ve just used up some of your 11/12 allowance.

Yeah. Balls. Faster Payments lulled me into a false sense of security.

Transferring out would be to a new ISA – which obviously I can’t open now. Bah.

i could be wrong but I think you can transfer between ISA accounts without affecting your allowance for the year as long as it goes directly from one ISA to another rather than via your current account

That’s right, inter-ISA cash transfers can be made without affecting your annual allowance. The ~£5K allowance is only for “new” money. So if you had say £15K in previous years ISAs then you could transfer that to a new ISA and still contribute your maximum ~£5K to the ISA.