Am I right in thinking that the ISA rules were changed such that you can take a few thousand out of your ISA and put it back, without affecting this year's allowance?
Slarti
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Taking cash from ISA and putting back?
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- Lemon Half
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Re: Taking cash from ISA and putting back?
swill453 wrote:Only if it's a flexible ISA https://www.moneysavingexpert.com/savings/flexible-ISAs
Scott.
Oh bugger!
Mine are on the non flexible list which means I may have to lose a couple of weeks interest.
Or take out a short term loan. Or possibly draw cash on my credit card.
I'll have to do some sums to see which will cost me least for the period involved.
Cheers
Slarti
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- Lemon Quarter
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Re: Taking cash from ISA and putting back?
Are there any flexible Stocks and Share ISAs? I just asked IWeb, and their's isn't, which is a shame, as its an obvious wheeze when buying one house before selling the other.
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- Lemon Half
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Re: Taking cash from ISA and putting back?
JohnB wrote:Are there any flexible Stocks and Share ISAs? I just asked IWeb, and their's isn't, which is a shame, as its an obvious wheeze when buying one house before selling the other.
I've no idea*** but from Scott's link https://www.moneysavingexpert.com/savings/flexible-ISAs:
It's not just cash ISAs that can be flexible. Innovative finance ISAs (peer-to-peer savings in an ISA wrapper) and cash held within a stocks and shares ISA can also be flexible. There are certain kinds of ISAs that can't be flexible – these are junior ISAs, Help to Buy ISAs, Lifetime ISAs and any element of a stocks and shares ISA that is NOT cash, ie, shares, bonds or funds.
*** Though a quick search (I haven't looked further) finds this lot https://www.share.com/stocks-and-shares ... xible-isa/
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- Lemon Quarter
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Re: Taking cash from ISA and putting back?
I just checked, and Charles Stanley's share one is flexible, but my p2p ISA with Funding Secure isn't.
This is of interest to me as I live in my mother's house which I will inherit, and would sell to move. Using a flexible ISA would allow me to buy before selling, and chain free moves are so much easier. I guess I should only put £19k into my p2p ISA, and hold back £1k in case I need to get a Charles Stanley share ISA to transfer my p2p and share cash into to do the twostep if Mum dies next tax year.
This is of interest to me as I live in my mother's house which I will inherit, and would sell to move. Using a flexible ISA would allow me to buy before selling, and chain free moves are so much easier. I guess I should only put £19k into my p2p ISA, and hold back £1k in case I need to get a Charles Stanley share ISA to transfer my p2p and share cash into to do the twostep if Mum dies next tax year.
Re: Taking cash from ISA and putting back?
Barclays and the Share Centre offer flexible stocks and shares ISAs
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