ISA remaining allowance

Caro618

Hi, why is my remaining allowance £29,514.00 for this year. I had a full isa with my bank in 2016 and took another in £20000 in 2017 I have since then taken money out and put it back in, it is an instant cash isa, at the moment there is £11000 in. I thought that once a year was up that was it, so you lost that years allowance. Do the isa amounts get added together so each year you can take out and put back in larger amounts?

eskbanker

ISA annual allowances are 'use it or lose it' so you can't carry forward, but there is now the concept of flexible ISAs, so that if you withdraw funds from a flexible ISA, you can pay them back in again during the same tax year, plus your normal contribution limit of £20K, so if you withdrew £9,514 from a flexible ISA earlier this tax year (and hadn't made any contributions) then you would indeed have a remaining allowance of £29,514, for another week....