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Posted Tue, 23 Jan 2024 12:57:23 GMT by
Hello, I have a question about flexible ISA rules. ISA rules say in any tax year I can only pay into one stock&share ISA. Flexible ISA rule say that any withdrawals can be repaid but only into the same ISA it came from. Question: assume I have 2 separate stock&share ISA: ISA #1 is flexible, while ISA #2 is not, Assume I already paid the full annual allowance in the current tax year ISA #2 (the non-flexible ISA). Then I withdraw £10k from ISA #1. Am I allowed to repay the £10k back into ISA #1 later in the same tax year, considering that I already paid into ISA #2? In other words, the limitation of paying only into one stock&share ISA each tax year, does this limitation apply only to the allowance of the current year, or also to repayment of withdrawals? Thanks.
Posted Fri, 26 Jan 2024 10:30:55 GMT by HMRC Admin 25
Hi Paolo Casaschi,
You can only pay a maximum of £20,000 in any tax year over the different types of ISA that you have.
As you state £20k has already been invested you now cannot invest more until after 06/04/24.
Thank you, 
Posted Fri, 26 Jan 2024 13:20:32 GMT by
@HMRC Admin : thanks for the response, however I was asking about the rules for flexible ISAs. From the HMRC website "If your ISA is ‘flexible’, you can take out cash then put it back in during the same tax year without reducing your current year’s allowance. Your provider can tell you if your ISA is flexible." I understand about the 20k allowance for new money into an ISA, and that I can only pay that allowance money into a singel stock&shares ISA for each tax year. My question is whether the ability to repay into a flexible stock&share ISA is limited to the one "active" ISA I already paid into during the tax year, or I'm allowed to withdraw/repay money also in another ISA that I have, other than the "active" one I used for my allowance of the year. Thanks.
Posted Tue, 30 Jan 2024 17:35:06 GMT by HMRC Admin 8
Please have a look at https:
Individual Savings Accounts: increasing flexibility for savers, particularly, the section 'proposed revisions.
Posted Tue, 30 Jan 2024 17:53:58 GMT by
Thanks, this looks promising. Under "proposed revisions", the following text would address my question: "In certain circumstances where a saver makes a payment that does not count towards the ISA subscription limit, it will also be possible for them to subscribe to more than one cash and one stocks and shares ISA in a year." How can I figure out if this option made it through from the "proposed" revision to the "actual" changes???
Posted Thu, 01 Feb 2024 15:55:06 GMT by HMRC Admin 25
Hi Paolo Casaschi,
Please see Individual Savings Accounts:
Individual Savings Accounts: increasing flexibility for savers Updated 17 February 2016
Please refer to the telephone number or email address provided under the further advice section if this does not answer you query.
Thank you. 

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