Repaying withdrawals from Cash ISA

anitagibbs

In the last budget the Chancellor announced that, from Autumn 2015, [FONT=&quot]ISA savers would be able to take money out of their ISAs and put it back in, without it counting towards the annual ISA allowance[FONT=&quot][FONT=&quot]. I would add a link to the MSE [FONT=&quot]article about it but as a new user I'm not allowed to.

[/FONT][/FONT][/FONT] I've heard nothing further about it. Does anyone know whether this has come into effect or has it been quietly scrapped?

Thanks to anyone who can help.[/FONT]

colsten

This will not be available before the next financial year.

If you need to deposit and withdraw in the same financial year, you might do better using current accounts rather than ISAs.

anitagibbs

Thanks for your reply, Colsten.

I don't envisage needing to make a withdrawal at present, but it would be nice to know the situation should I ever need quick access to funds for a short period in the future.

colsten

How much is in your ISA?

What are you saving for?

anitagibbs

I have £35,000 in my ISA.

I'm not saving for anything. I'm in my 70s and it's general savings and part of the proceeds of downsizing from a bungalow to a retirement flat.