ISAs, withdrawals and NISAs

LandanLad

Evening folks.

I have the maximum allowed in my ISA.

What happens if I withdraw £2k now. I know I can't put this back into this year's allowance, but can I do so in July when NISAs come into effect?

Thanks all

jimjames

The limit in July is £15k so if you have under that then yes you can put it back in.

But you could put it in a TSB account instead and get 5% on it which is more than any ISA.

LandanLad

Thank you. Just done exactly that.

jimjames wrote: »

The limit in July is £15k so if you have under that then yes you can put it back in.

But you could put it in a TSB account instead and get 5% on it which is more than any ISA.