Couple of quick Cash ISA questions

stevearm

I've opened a Natwest e-ISA a few days ago and I've a couple of questions:

1. I've transfered £2000 in today. If I were to withdraw this £2000 (for whatever reason) once the new tax year starts, is it taken out of my new allowance for the year, or is that only affected my money I put in during this new year?

2. Was that the best thing to do, putting money in before the tax year ends, or should I have waited.

Sorry for the dumb questions, new at all this!

Cheers

brewerdave

1. No - the £2000 is for 2012-3 - if you withdraw it early in the new tax year it has no effect on the allowance for 2013-4.
2. Yes - if you can leave that money for a decent period of time then its always worth saving via ISA -HOWEVER, if you intend to withdraw the money within months then its not worth the hassle as the extra interest (at todays miserable rates!) is insignificant on £2k

stevearm

Thank you, I just wanted to check withdrawing a previous tax year's allowance won't negatively impact me in the current year. Glad to hear the answer is no.