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Flexible ISA - Transfer/Withdrawals

Hi All,

Lets say on April 6th I open a Flexible Cash ISA and a Stocks and Shares ISA and fund each account with £10k using my 24/25 ISA allowance in full.

I know with the Cash ISA I can withdraw and replace money as needed (up to the £10k) during the tax year.  However, If I wanted to use this withdrawal to top up my S+S ISA or open a NEW cash ISA,  would this be possible under the flexibility rules, or would it have to be done via the ISA transfer process only? 

Thanks

Comments

  • masonic
    masonic Posts: 27,810 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 30 March 2024 at 11:24AM
    Yes, flexible withdrawals of current year money can be replaced in any other ISA you hold with no net impact on your allowance. As of 6th April, this can include another ISA of the same type.
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