Hi,

I have now received money back from the FSCS which is good news. The problem is they have returned cash for the two Mini Cash Isa's I had with IceSave. They did not send me an ISA transfer form. Can I re-invest the money for the current year in a Mini ISA for another year? Or is my tax free status lost forever? Thanks

Mike Claydon

You should contact another provider as soon as you can and explain the situation. You should have documents stating the ISA status of the funds. It is up to each provider what they will accept so you should take advice there. Hopefully you can keep your ISA status without having to return the money but you need to communicate first with another ISA provider and, if necessary, with FSCS/the liquidator.

Hi Mike,

The FSCS have said that they will send ISA certificates to everyone in this situation. These can then be presented to the new bank to retain the tax-free interest. The certificate should be sent to you within 2 weeks, and the cash will need to be reinvested in a new ISA before 4th April 2009. There are more details on the FSCS website: http://www.fscs.org.uk/faq/icesave_faqs/

I hope this helps

Angela