Barclays fixed isa withdrawal

susanann_2

The Barclays Fixed Isa at 4% gives you an opportunity to withdraw 3 x 10% of your balance without penalty. Can you withdraw from one isa and open and pay into a new isa. It’s money that was paid in last tax year. Thanks  

refluxer

Withdrawals from a Barclays Flexible Cash ISA are made as cash (partial transfers out are not allowed) so once you've withdrawn it, then it simply becomes cash outside of an ISA 'wrapper' and you're obviously then free to do whatever you like with it. If you pay that cash into a new ISA, then that will count towards your 2023-24 tax year allowance.

In order to use the flexibility aspect of the Barclays Flexible Cash ISA, you'd need to pay those same amounts back into it before the end of the current tax year (or before it matures if that occurs sooner) in order not to lose the tax-free status of those withdrawn amounts.