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Trading 212 Withdrawals.

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  • wmb194
    wmb194 Posts: 4,937 Forumite
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    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    No, it's showing £20,002.84 in the Isa. The annual allowance is £20,000 and you've used £19,900 of it.
  • masonic
    masonic Posts: 27,292 Forumite
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    edited 26 July 2024 at 4:45PM
    I think I would take issue with one aspect of that display, and that is the statement that "Current tax-year ISA allowance" used is £19,900. It is not. The whole £20,000 allowance has been used, but the OP can replace £100 of money they have subsequently flexibly withdrawn. They could not, for example, open another ISA elsewhere and pay in £100, as they would then have breached the annual allowance. I don't think many flexible ISA managers are providing this level of detail, however.
  • Woodentop11
    Woodentop11 Posts: 12 Forumite
    Ninth Anniversary First Post Combo Breaker
    wmb194 said:
    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    No, it's showing £20,002.84 in the Isa. The annual allowance is £20,000 and you've used £19,900 of it.
    I invested £20,000. When the interest reached a £100 ,(so I had £20100),  I withdrew £100. 

  • wmb194
    wmb194 Posts: 4,937 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    wmb194 said:
    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    No, it's showing £20,002.84 in the Isa. The annual allowance is £20,000 and you've used £19,900 of it.
    I invested £20,000. When the interest reached a £100 ,(so I had £20100),  I withdrew £100. 

    Right, so the Isa has £20,000 in it. What’s the issue?
  • Barkin
    Barkin Posts: 770 Forumite
    500 Posts Second Anniversary Name Dropper
    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, 
    No, £19900 is how much you've used of your total ISA allowance. It even says so in the heading above the number... 
  • Barkin
    Barkin Posts: 770 Forumite
    500 Posts Second Anniversary Name Dropper
    wmb194 said:
    wmb194 said:
    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    No, it's showing £20,002.84 in the Isa. The annual allowance is £20,000 and you've used £19,900 of it.
    I invested £20,000. When the interest reached a £100 ,(so I had £20100),  I withdrew £100. 

     What’s the issue?
    OP doesn't understand (flexible) ISA's? 
  • FIREmenow
    FIREmenow Posts: 375 Forumite
    100 Posts Second Anniversary Name Dropper
    The bit saying how much ISA allowance you have used so far is just a handy reminder, it isn't your balance. If you had put £20k in last tax year too, your balance now would be £40,000 (plus any interest) but the ISA allowance would still show £19900 after your withdrawal because it only relates to money in/out this tax year. Directly under the words Cash ISA in the top left-hand corner is your actual balance, and it will all be earning interest. 

    If an illustration is helpful, I have made the maximum contribution to my stocks and shares LISA this tax year, as shown below...



    But this is definitely not my balance, as I have been paying into it for a few years, and returns have been good, so the balance is made up of  contributions, investment returns,



    There are displaying it split into cash and investments, but it is all within the LISA which is the only account I have with them.
  • st182
    st182 Posts: 164 Forumite
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    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    The account is an ISA, and it has 20k within it. All of it is under ISA rules. They don't even have a non- ISA savings account.

    Pay Off Debts by Xmas 2025 debt £0/7400
  • slinger2
    slinger2 Posts: 1,000 Forumite
    500 Posts First Anniversary Name Dropper
    wmb194 said:
    st182 said:
    That's your allowance as masonic has said? its a flexible isa? balance is 20k not 19900.
    I know my total balance is 20k but it's only showing £19900 in the ISA, my simple mind says that the £100 I've withdrawn is the initial investment not the interest. 
    No, it's showing £20,002.84 in the Isa. The annual allowance is £20,000 and you've used £19,900 of it.
    I invested £20,000. When the interest reached a £100 ,(so I had £20100),  I withdrew £100. 

    You're thinking that you've withdrawn the interest but it's a flexi-ISA and actually you've withdrawn £100 of your £20,000 investment, so there's £19,900 of that left in.
  • jediyoda
    jediyoda Posts: 1 Newbie
    First Post
    I totally understand your point.

    Why can we not withdraw the interest on a cash ISA on a monthly basis. 
    EG:- I have £20,000.00 (annual allowance) earning £100 interest per month and I want to take out the £100 (interest pot).
    I am left with £19,900 of my annual allowance earning interest and the £100 (interest pot) sitting earning nothing, as trading 212 has taken the £100 out of my annual allowance, and NOT the interest pot. 
    How do I take the monthly interest only.......?
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