S&S ISA Profit taking.

GregsMate

Hi, I have had a S&S ISA for several years that I use to its max each year ie put in 20K each year.  This FY I have already put in 20K.  I would like to sell some shares and withdraw 8K.  If I withdraw the 8K can I later in the year put that 8K back in, bearing in mind I have already paid in 20K this FY?  

grumiofoundation

If the ISA is a flexible ISA you can take money out of your ISA and pay money back in again within the same tax year.

GregsMate

Great! Thanks

badger09

GregsMate said:

Great! Thanks

Hope you didn't miss the If.

grumiofoundation said:

If the ISA is a flexible ISA you can take money out of your ISA and pay money back in again within the same tax year.

Who is your S&S ISA with?

GregsMate

AJ Bell.  Youinvest.

GregsMate

..and i've just checked and i's not a 'flexible ISA' 
Thanks for giving me those keywords..

eskbanker

You still have the option of selling the specific shares to take those profits, but keep the proceeds within the ISA.

Or if you need access to the cash, transfer £8K (nominated as prior year money) to another ISA provider (offering flexible ISAs, e.g. a cash one), take it out from there, and repeat the steps in reverse when done.

GregsMate

I follow you.  
I would never have thought of that!