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Where Taxpayers and Advisers Meet
ISA previous tax year withdraw put back
Do the new rules letting you take money from an ISA and then put it back in the same tax year only apply to an ISA taken out in the same tax year?
Re: ISA previous tax year withdraw put back
Per HMRC:
"The March 2015 Budget announced that changes would be made to allow ISA savers to replace cash they have withdrawn from their account earlier in a tax year, without this replacement counting towards the annual ISA limit for that year. This flexibility will be available in relation to both current year and earlier years’ ISA savings where provided for in the terms and conditions of a ‘flexible ISA’"
"The March 2015 Budget announced that changes would be made to allow ISA savers to replace cash they have withdrawn from their account earlier in a tax year, without this replacement counting towards the annual ISA limit for that year. This flexibility will be available in relation to both current year and earlier years’ ISA savings where provided for in the terms and conditions of a ‘flexible ISA’"
Re: ISA previous tax year withdraw put back
When is this meant to come into effect? I don't think it's in effect now as I got a warning when I went to withdraw from an ISA. 2017/2017 tax year?
Re: ISA previous tax year withdraw put back
I just asked on Halifax chat. And it seems it starts in the new tax year with some older ISA accounts converting.
