>> Last finacial year I possesed a fully subscribed MAXI ISA and a TOISSA.
>> Because the interest rate on the TOISSA (with IF) had been severely >> reduced,
>> I wished to transfer it elsewhere, the obvious place being the Halifax. >> But
>> the Halifax do not advertise a TOISSA.
>>
>> Upon getting Halifax to ring me (yes, they will), I was informed that >> TOISSA
>> money could be moved into a Mini cash ISA but/and I would require to open
>> one with them first. I thought I had made it abundantly clear that I
>> already had a fully subscribed MAXI stocks and share ISA, and intended to
>> keep it fully subscribed in the future, but was informed that that would >> be
>> no problem.
>>
>> Then, before I had actually made such a transfer, I read in the Sunday >> Times
>> financial agony column (in an answer to someone else) that, if one moved >> a
>> TOISSA into an ISA, one would forfeit the option to also open or possess >> a
>> MAXI ISA in the same year. Oops? So I did nothing about it.
>>
>> Q 1: Having not put any money into the Mini cash ISA, may I assume that >> my
>> MAXI ISA has not been compromised and I won't land in the clink? >>
>> Q 2: Could I, in fact, have made the transfer without getting up Mr >> Brown's
>> nostrils?
>>
>> Q 3: If I make the transfer now, will I still be able to subscribe to my
>> valuable MAXI ISA in this tax year?
>>
>> Q 4: If my ISA status has been compromised, would I be able to 'have' >> the
>> Halifax for giving me false advise?
>>
>> It's all a bit worrying.
>>
>> --
>> GPG
>>
>>
> Mark you, here is a statement from Bradford and Bingley - are they just > havering? >
> Please be advised that we are unable to accept the transfer in of TESSA
> only ISA's - you can only transfer in mini-cash or consolidated
> mini-cash/TOISA holdings into our eISA.
>
> Under ISA regulations, you cannot subscribe to both a mini-cash and a maxi
> ISA within a given tax year.
>
> GPG
>
>
Following upon this, and deeply frustrated, I decided to phone HM Revenue & Customs's ISA advice line.
According to them, one CANNOT transfer a TOISA to an ISA. The gentleman insisted that this advice was CORRECT.
Mmmh :-(
GPG