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Flexible ISA Question
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sirarthur
Posts: 25 Forumite

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.
Apologies, just saw the Flexible ISAs guide below which answered my question.
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ISA flexibility, when available, applies to the whole balance of your ISA.
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If you "replace" money in one tax year, can it be withdrawn and replaced again in the following tax year without impacting either year's allowance?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?0 -
Fingerbobs said:If you "replace" money in one tax year, can it be withdrawn and replaced again in the following tax year without impacting either year's allowance?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?
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