withdrawing uninvested s&s ISA funds

mickymellon

quick question;

say I transfered £1k into my S&S ISA this year to buy shares in a company

once done, I find I cant purchase it within an ISA

If I withdrawl the £1k back into my bank account, is my annual allowance still £7200 or because I drew money out £6200??

Thanks

[Deleted User]

The answer to your question is £6200.

turbobob

You would have £6200 remaining annual allowance.

mickymellon

thank you both :money:

dunstonh

When you say this year, do you mean this calender year or this tax year? ISA contributions are based on tax year so 6th April is the start of the tax year. If you put it in before then, it used up last years allowance, not this years.