Following the problems at Northern
Rock earlier this year, the government has
announced that it will allow the people affected
to re-invest their money into any cash ISA,
including Northern Rock’s, and so restore
their tax advantages. This announcement applies
to funds withdrawn from Northern Rock ISAs
between the 13 and 19 September 2007 inclusive.
By 5 April 2008 savers who wish to restore
their cash ISA must either:
- return their funds to a Northern Rock ISA
or
- obtain from Northern Rock a certificate
for the amount of cash ISA savings withdrawn
between 13 and 19 September 2007 and present
this to a new cash ISA provider when depositing
the money.
Internet link:
Treasury
press release |
