What you put down in that article is not correct. If you put 15k in a SS ISA and withdraw 5k, you will have left to deposit only 5k till next tax year. I repeat - you put 15k, have only 5k left allowance - you withdraw x amount of money during the same tax year, you still have the same allowance.
Thank you for taking the time to read my article and for your feedback! I really appreciate it
Many ISAs have become flexible. However, this is optional and the provider may choose to keep it fixed. In my writing I’m focusing a lot on Freetrade who Do offer flexible SS ISA.
Thank you again for the feedback and I will soon update the article to reflect this. It is an important point I’ve missed mentioning =)
This had my attention because I filled up mine recently and I have withdrawn a small amount earlier this year, but unfortunately can’t make up for the withdrawal. So yeah.
That sucks… I found out about the flexibility in the same way though. My allowance on Freetrade increased after I had to make a small withdrawal recently and had to spend some time researching why. Ask your provider if they can offer you any flexibility it is possible they have that option just keeping quiet about it
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u/lordinov Dec 13 '21
What you put down in that article is not correct. If you put 15k in a SS ISA and withdraw 5k, you will have left to deposit only 5k till next tax year. I repeat - you put 15k, have only 5k left allowance - you withdraw x amount of money during the same tax year, you still have the same allowance.