withdrawing money from last years ISA -advice needeed

Philip624

If I pay in £1000 to reach my £3000 limit for a mini cash isa before the end of this tax year and want to withdraw that £1000 after april 1st will it effect the amount i can pay into the isa in the next fy? I.E. will i only be able to pay in £2000 if I withdraw the £1000 paid in before 1 April after 1 April?

Grateful for advice.

grumbler

NO.
Every tax year you have £3000 allowance to pay in.
Make sure that your current ISA is easy-access if you are going to withdraw.

grumbler

Philip624 wrote:

If...will i only be able to pay in £2000 if I withdraw the £1000 paid in before 1 April after 1 April?

Just some clarification.
You can always pay in up to £3000 per year. However, if you withdraw money you just cannot return the withdrawn amount back to ISA.
For example: in 2000 out 1000 in 1000 balance 2000 - and it is already impossible to add another 1000 in order to reach 3000.