ISA advice

JoJo69_3

I have 2 flexible ISAs. I used my 24/25 allowance and this year used my 25/26 allowance. I am planning on using some of the money for a purchase out of one of them.  Will I be able to pay money back into the ISA I take it from...so sort of replacing the money so to speak?
Thanks in advance. 

eskbanker

Yes, that's the whole point of flexible ISAs, that you can replenish withdrawals without it counting towards your current year contribution allowance, as long as you do so by the end of the tax year.

JoJo69_3

Thank you. I wasn't sure as I have already used my allowance for this year. Good knowing I can just replace it

JoJo69_3

Just another. ..I actually used the funds from the 24/25 ISA so any payback would be outside of that tax year and no allowance left for this year so guess its a no in reality 

eskbanker

JoJo69_3 said:

Just another. ..I actually used the funds from the 24/25 ISA so any payback would be outside of that tax year and no allowance left for this year so guess its a no in reality 

If you've withdrawn prior year money from a flexible ISA since 6 April then there's nothing preventing you from replenishing it back to the same ISA before 5 April 2026, without affecting, or being affected by, your current year contribution allowance.

slinger2

You can withdraw any money that's in a flexible ISA but you'll need to replace it in the same tax year that you withdraw it. That way you won't use any of your allowance.