Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 11 Dec 2024 09:26:41 GMT by Ben
Hi, I have paid into my s&s ISA this tax year, but needed to take some money out after my payments in. This was c.£3k payments in, and £35k out. I then made regular payments in of c.£4k total, and took out £5k. I have paid into my LISA of £4k separately and a further £11k into another s&s ISA. My question is, does my contributions in my original ISA count towards my 20k allowance? i understand my £3k in would as i had not taken any funds out at this point. but does my contributions afterwards use my 'flexible allowance'or my 20k allowance?
Posted Mon, 16 Dec 2024 14:14:14 GMT by HMRC Admin 18 Response
Hi,
Please refer to link below:
Individual Savings Accounts (ISAs)
Thank you.
Posted Mon, 16 Dec 2024 17:18:21 GMT by Ben
Hello, Thanks for the reply, but the link does not have information relating to my query? As the example given relates to the same ISA, whereas I have used my ISA allowance over different ISA accounts.
Posted Mon, 23 Dec 2024 15:30:43 GMT by HMRC Admin 10 Response
Hi
Provided any income arising from the capital in this account ocurred while you were not resident, then it is not taxable.  Any income that did arise while you were resident in the UK, is taxable and should be declared.  There are no other tax implications on the transfer of the capital to the UK.
Posted Tue, 24 Dec 2024 12:24:28 GMT by Ben
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.

You must be signed in to post in this forum.