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Cash ISA available from 6th April 2008 From the 6th April 2008 new changes have been made to the ISA regulations. Mini Cash ISA's and TOISA's have become Cash ISA's and the subscription limit has increased from £3,000 to £3,600 per annum. The Cash ISA subscription for over 50's is £5,100 with effect from the 6th October 2009. For all other customers £5,100 maximum subscription with effect from the 6th April 2010. Chorley Cash ISA
Frequently Asked Questions Q Do I have to close my existing Mini Cash ISA account and re-open as a Cash ISA? A No, your account number and passbook will remain valid, therefore no action is required by yourself. Q I currently hold a Mini Cash ISA and a TOISA. Does this mean I now have two Cash ISA's? A Yes, but as previously you can only subscribe to one Cash ISA per tax year, so should you wish to subscribe to an ISA in the tax year 2008/2009 you will need to decide which product to subscribe to. Q Do I have to subscribe to my TOISA now it is re-classified as a Cash ISA? A No, you do not have to commence subscriptions if you don't wish to, you can leave it as it is, although there may be a benefit if you combine your Cash ISA and your TOISA due to our tiered rates of interest. Q Can I transfer my ISA from another provider? A Yes, you can transfer previous years subscriptions from another provider into a new or existing ISA with the Society. Please speak to one of our Customer Advisors on 01257 235003 for further details on this process.
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