Vanguard flexible ISA - can I sell funds, withdraw more than £20k cash and then put cash back in

dharm999

I have a Vanguard flexible ISA, fully invested in funds, but need some money in the short term.  Can I sell the funds, and then take the cash out, which is more than £20k, and then put it all back in later in the same tax year, and then buy back in to the funds I sold?  I appreciate I am taking a risk by not being invested, but that's a risk I am prepared to take.

i understand I can withdraw cash from the ISA, and put it back in, all in the same tax year.  Any money put back in would be allocated to the oldest tax years first, and I assume selling fund investments to turn in to cash, meets that criteria

Thanks

FaceHead

Yes. The ISA allowance is essentially a net deposits allowance, so you can put in 20k plus however much you've taken out that year. 

eskbanker

Yes, you can sell, withdraw, redeposit and repurchase, the first three of which need to be in the same tax year.

dharm999

Thanks for the info, really helpful.