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ISA transfers in from last year, add money this year and want to draw some and a little unclear
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azaharchica
Posts: 14 Forumite
Hi. hope someone can clarify
Transferred into a new FLEXIBLE isa £7k from last year. Added 2k this year which as it's flexible i can replace later on in the year.
If i was to draw £5k of the £9k would I only be able to replace this years money ie. £2k or would I be able to replace also the money from last year with the 5 counted as last year, or would £2k be a replacement and last year's £ count as new money this year ?
Transferred into a new FLEXIBLE isa £7k from last year. Added 2k this year which as it's flexible i can replace later on in the year.
If i was to draw £5k of the £9k would I only be able to replace this years money ie. £2k or would I be able to replace also the money from last year with the 5 counted as last year, or would £2k be a replacement and last year's £ count as new money this year ?
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Any money flexibly withdrawn from an ISA can be replaced before the end of the tax year without using additional allowance. This includes money from prior tax years.0
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