ISA limits confusion

snarffie

Hi,
I have a cash ISA which I've added a total of £6975 into this tax year.  I have since withdrawn £4750 from the cash ISA.

My cash ISA statement lists the following:
Total funds that can be paid into a Cash ISA £17725
Unrepaid withdrawals in this tax year £4750
Your remaining ISA allowance for this year £13025

I can see where the numbers come from, but I wonder why the £4750 figure is shown.  If I put £4750 back into my ISA, would I still have an allowance of £13025 remaining?

Thanks

snarffie

I think I can return up to £4750 of the withdrawn amount without affecting the allowance as this seems to be a "flexible" ISA (Flexcusive), so I think that answers my question...

To add to this, I now have a Shares ISA with another provider.  Assuming I don't put any more money into the cash ISA above in this tax year, do I now have £17725 or £13025 left to put into the shares ISA?

Thanks in advance for any help on this.

masonic

Your ISA provider appears to be reporting incorrect figures. If you really paid £6975 into the ISA this tax year, then made a flexible withdrawal of £4750, then your remaining ISA allowance for this year is £17775, and none of this would necessarily need to be paid back into your cash ISA - it could all be used in an ISA of another type if you wished.

snarffie

Thanks masonic,
I put in the wrong number (it's 17775, as you say).   Good news hat I can put the whole £17775 into the shares ISA.  I appreciate the help.