New ISA rules, how have they become more flexible?

Posted on February 17th, 2016 | Categories - News

Following changes over the past couple of years, which have seen the maximum you can pay into an ISA (Individual Savings Account) rise substantially and Cash ISAs given parity with Stocks & Shares ISAs, another change will soon make this method of saving even more flexible.

The new Flexible ISA rules will allow savers to replace any money withdrawn from their Cash or Stocks & Shares ISAs earlier in the tax-year, without the replacement counting towards the annual ISA allowance.

The previous rules effectively penalised savers who withdrew Cash from their ISA during the tax-year. For example, if you paid the maximum possible into an ISA at the start of the 2015/16 tax-year, then a few months later withdrew £2,000, this money could not be replaced later on in the same tax-year as the maximum £15,240 had already been contributed.

The new flexibility, which will come into effect from 6th April 2016, will be available for both current year and earlier but will be subject to conditions in certain cases about which ISA provider can accept replacement amounts.

We are here to help

If you would like more information about how Flexible ISAs affect you, we are here to help.

Call Bev or Sarah on 0115 933 8433 or email

Leave a Reply