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Post by robberbaron on Mar 12, 2018 13:24:59 GMT
I couldn't find any precise information regarding the following case. Suppose I have two flexible IFISA A and B opened this tax year but with funds transferred from previous tax year ISAs. Can I withdraw funds from A to put them into B during this tax year then do the reverse during the next tax year without it being considered a permanent withdrawal?
I understand that you can withdraw money and put it back into flexible ISA wrappers during the same tax year but it's not clear whether the ISAs you withdraw from and fund into need to be same.
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pom
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Post by pom on Mar 12, 2018 14:24:54 GMT
Pretty sure it has to go back to the same one. But also, unless you do a formal ISA transfer, anything you pay into B will count as "new" money for the current tax year. Sounds to me like you actually want to do a transfer...
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archie
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Post by archie on Mar 12, 2018 14:34:22 GMT
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ilmoro
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Post by ilmoro on Mar 12, 2018 15:51:24 GMT
No you can't do that. Has to go back to the account from whence it came. The only movement that can be done except via transfer is current year funds can be withdrawn from one ISA type (flexible) and invested as current year money in a different ISA type as the original subscription would be discounted.
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