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Posted Sat, 16 Nov 2024 19:34:56 GMT by Decompose3293
Hi, I have withdrawn this year's full allowance from a flexible cash ISA with a bank into another flexible cash ISA with another bank by manually moving the money (i.e. not using the ISA transfer form), thinking that it would be allowed but it sounds like it isn't according to the message above ("any funds withdrawn from a flexible ISA must be paid back into the same one in order for it not to count as new money"). What should I do now to avoid any problems with HMRC? Thank you,
Posted Mon, 18 Nov 2024 11:02:47 GMT by HMRC Admin 8 Response
Hi,
Please have a look at the guidance at:
Individual Savings Accounts (ISAs)
Thank you
 
Posted Tue, 19 Nov 2024 15:29:21 GMT by HMRC Admin 17 Response

Hi ,
As long as the funds are returned to the same ISA and

its a flexible ISA then yes .

Thank you .
Posted Tue, 19 Nov 2024 16:04:11 GMT by HMRC Admin 10 Response
Hi
This is still allowed but you have now used the full 20k allowance and cannot pay anymore into any ISA until after 6/4/25.
Posted Wed, 23 Apr 2025 09:36:56 GMT by Tina Wylde
Hi. I've read through all the above posts (and guidance notes), but I'm still confused. Yesterday, I wrongly deposited £1000 into an existing flexible ISA that had a nil balance and will shortly withdraw the funds. I would just like to know if I could deposit my full £20,000 allocation with another provider? Thank you
Posted Mon, 28 Apr 2025 10:47:53 GMT by HMRC Admin 17 Response

Hi ,
 
No as you are not putting the funds back into the same flexible ISA - :

 Individual Savings Accounts (ISAs)  .

Thank you .

 

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