Flexible ISA Question

sirarthur

If I have contributed £5000 this tax year to a flexible cash ISA and contribute a further £5000 in the next tax year, will both amounts be available to take out and use elsewhere or just the current year's contribution?
Apologies, just saw the Flexible ISAs guide below which answered my question.

masonic

ISA flexibility, when available, applies to the whole balance of your ISA.

Fingerbobs

If you "replace" money in one tax year, can it be withdrawn and replaced again in the following tax year without impacting either year's allowance? 
e.g. if I withdraw £1000 in February 2020, put it back in on 4th April, then withdraw it again on 7th April, can I then, later in the year, put in the full allowance for 2020/21 (presumably £20k again), plus the £1000 I withdrew on 7th April? 

masonic

Fingerbobs said:

If you "replace" money in one tax year, can it be withdrawn and replaced again in the following tax year without impacting either year's allowance? 
e.g. if I withdraw £1000 in February 2020, put it back in on 4th April, then withdraw it again on 7th April, can I then, later in the year, put in the full allowance for 2020/21 (presumably £20k again), plus the £1000 I withdrew on 7th April? 

Yes, that's how it works. You can zero your balance each 6th April if you like, then replace the lot +£20k by 5th April the following year.