ISA - last in first out?

Al_Mac

Started an A&L ISA with 3k, I intend to stick another 1k on April 6th.

May I'm having some building work done, costing 3k, which I need to take out of the ISA.

The question is, it the 3k the first 3k. Or 1K + 2K?

Thanks

Not sure what I was thinking. Got it into my head about losing investment opportunities

I'll stick to credit cards

esalan

Does it matter? You can still only add another £2K after April 6th 2005.

Paul_Varjak

Does not make any difference!

You are limited to putting in £3,000/year into an ISA. If, say, you put in £1,000 to a new ISA on April 6, and withdraw it a month later, you cannot then put in £3,000 later that year - only £2,000!

lipidicman

Dont put the 3k in after april the 6th - keep the 3k, spend it on the work. Then if you can save up pay into the ISA within the year. Putting it in for 1 month is a bit wasteful.

Or put the money in the ISA and pay on a 0% card and pay it off before the 0% ends. If you are unsure you will be able to pay the bill use a high interest savings account and move it to the ISA before the tax year ends, that way its intanst access if you really need it