ISA question

[vkurup]

Quick question on withdrawing money from ISAs. the situation is
1) Year 1.. I pay x amt into the ISA. If I withdraw a 'y' amount, I know I cannot put back that 'y'. I can only deposit whatever is the limit-'x' at that time. Is that correct

2) Year 2. I havent paid into it yet. I want to withdraw some money say 'a' - this is part of the existing savings in the ISA. Once I have withdrawn, what am I allowed to put back in during the year? what are the rules regarding withdrawl in a year when you havent paid anything into it.

 

[fundy]

Keep withdrawals and deposits separate.

The deposit rules are very clear as to how much you can put in in each year.

Withdrawals are totally up to you (unless the provider limits per year) but havge no bearing on deposits

So yes 1) correct and 2) you can still just put in that years limit

 

[vkurup]

Keep withdrawals and deposits separate.

The deposit rules are very clear as to how much you can put in in each year.

Withdrawals are totally up to you (unless the provider limits per year) but havge no bearing on deposits

So yes 1) correct and 2) you can still just put in that years limit

tnx, thought as much..