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Cash ISA allowance - topping up
NormalforNorfolk
Posts: 29 Forumite
I have a cash isa which I pay £150 into each month, however when logging on to look at the current balance, it shows the ‘remaining allowance’ as £20,900 - can anyone explain why it is showing as more than £20k. My husband and I have just received an inheritance and want to top up our ISAs as much as we can. Based on my ‘remaining allowance’ could I top up the ISA with £20,000 and continue with my monthly payment for the rest of the tax year?
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Comments
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It's worth saying what exactly ISA it is.
E.g. if it's a flexible ISA and you withdrew £5K in this financial year and deposited £4K, then AFAIK the allowance would be £21K.0 -
My understanding is it is a flexible isa. I make a regular monthly payment of £150. I have made one withdrawal this year of £2000.0
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Well, this explains why the ‘remaining allowance’ is £20,900. You can add up £20.9K in total in whatever order and amounts you want.0
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