SAYE Scheme

So I'm trying to get a better understanding of this. I'm buying shares from my employer using the save as you earn scheme. They are currently worth £38k. I know I can transfer £20k into an investment ISA using the allowance. However, if I have money saved up from the previous year and withdraw and use the ISA flexibility rules does this work? For example I have £10k in an investment ISA from a previous tax year, I withdrawal all of that, can I then transfer in £30k using my allowance and the ISA flexibility rules? Then I am only paying CGT on the remaining £8k Sorry, I wasn't entirely sure this was the right forum

Hi  Matthew Whitehead,
No, you can only put in 20k to a stocks and shares ISA
Please see here:
Tax and Employee Share Schemes
Thank you. 


 

Thank you for the information. However, please refer to https://www.gov.uk/individual-savings-accounts/withdrawing-your-money#:~:text=If%20your%20ISA%20is%20'flexible,if%20your%20ISA%20is%20flexible.&text=Your%20allowance%20is%20%C2%A320%2C000,2023%20to%202024%20tax%20year which explains the ISA flexibility rules more clearly. I would not add new contributions of more than £20k but would In the example I gave previously, as long as the ISA provider had ISA flexibility rules then if I withdrew £10k from my stocks and shares ISA, in the same tax year, I could add the £20k allowance plus the £10k that I had withdrawn. A total of £30k. Therefore, does this then allow me to mitigate more CGT by using these parts together?

Hi,
Where a flexibile account allows the withdrawal of funds, you can only pay back into that same account, the withdrawal plus up to £20.  
Thank you.