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  • FIRST POST
    • grumbler
    • By grumbler 20th Apr 17, 10:21 AM
    • 51,387Posts
    • 21,753Thanks
    grumbler
    What if ... I take money from a flexible cash ISA and then transfer the ISA?
    • #1
    • 20th Apr 17, 10:21 AM
    What if ... I take money from a flexible cash ISA and then transfer the ISA? 20th Apr 17 at 10:21 AM
    Can I pay the money back to the new ISA in this financial year?
    I.e. is the information about the current state transferred together with the money?

    Or does the original ISA remain active despite empty and the money has to be paid back to it? - This makes more sense as covers partial transfers as well as full.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
Page 1
    • isasmurf
    • By isasmurf 20th Apr 17, 1:10 PM
    • 1,642 Posts
    • 667 Thanks
    isasmurf
    • #2
    • 20th Apr 17, 1:10 PM
    • #2
    • 20th Apr 17, 1:10 PM
    Withdrawals can only be replaced into the account from which they were made. They cannot be transferred to a different ISA.

    On full transfer the account would be closed. If the account remained open you would still be allowed to replace withdrawals to the extent they related to previous years' money. You couldn't replace withdrawals from current year deposits as that would break 'the one ISA a year' rule. If you intended to replace withdrawals relating to previous year money in year I would suggest a partial transfer that would leave 1 (or the minimum balance allowed) in the account to keep it open - assuming that 1 was previous year money as current year money has to be transferred in full.

    Withdrawals are allocated against current year deposits first, then previous year money.
    Deposits are allocated replacement of withdrawals previous year money, then replacement of withdrawals of current year money, then current year subscriptions.
    • grumbler
    • By grumbler 20th Apr 17, 1:47 PM
    • 51,387 Posts
    • 21,753 Thanks
    grumbler
    • #3
    • 20th Apr 17, 1:47 PM
    • #3
    • 20th Apr 17, 1:47 PM
    You couldn't replace withdrawals from current year deposits as that would break 'the one ISA a year' rule.
    Originally posted by isasmurf
    Do you mean replacing by deposits to the new ISA, that the old one was transferred to?
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • isasmurf
    • By isasmurf 20th Apr 17, 2:29 PM
    • 1,642 Posts
    • 667 Thanks
    isasmurf
    • #4
    • 20th Apr 17, 2:29 PM
    • #4
    • 20th Apr 17, 2:29 PM
    I was referring to the old ISA.

    Re-reading the guidance again, you can effectively replace withdrawn current year subscriptions in the new ISA. The old ISA manager reports a "net subscription" figure to the new ISA manager. Replacing previous year money can only be in the old ISA. Who said this was simple?!

    If you make a deposit of 18,000 to ISA A
    You withdraw 6,000 and transfer the rest to ISA B
    ISA A tells ISA B you have made 12,000 of subscriptions
    You are free to deposit the remaining 8,000 in ISA B or another ISA of a different type.
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