Oscar Cheng

Appreciate the reply. The account is not an ISA. I still struggle to understand the definition of "able to access the interest". Would I be considered to be able to access the interest if the interest, together with the principal, is automatically renewed for another set period on the first expiry date? Can you please comment on the case where the interest is automatically renewed for another set period in an non-ISA account? Thanks. 

Name removed admin .

Thanks for the reply. Would I be considered as having access to the interest if it is automatically renewed? Oscar

Hi there, If I have a fixed deposit to be matured in tax year 2023/24 and it would be automatically (principal + interest) renewed for another 12 months which will be then matured in tax year 2024/25. Do I need to report the interest, being automatically renewed as part of the fixed deposit for another 12 months, in tax year 2023/24? Thanks. Oscar

Hi team, I have read the guidance on HMRC website. Unfortunately, it does not quite answer the question so appreciate if you could advise me further apart from what is stated on HMRC website. Thanks. Oscar

Hi, Thanks for the response. The ISA is flexible so the bank would allow me to transfer the funds out of it. My concern is if I am allowed to do it under ISA rules (or from HMRC perspective, not the Bank perspective). Any limit on the transfer amount? Also, is the transfer considered as "contribution"? Thanks. Oscar

Hi team, I have a Cash ISA account which was opened and funded in tax year 23/24. I also made new contribution to this existing Cash ISA account is tax year 24/25. My question is am I allowed to open another Cash ISA account in another bank and transfer all (or just partial fund which was funded in the tax year 23/24) the funds from the existing Cash ISA account to the new Cash ISA account? I have read the guidance on HMRC website. Unfortunately, it does not quite answer the question so appreciate if you could advise me further apart from what is stated on HMRC website. Thanks. Oscar