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Can I transfer funds out of my ISA and then back in within the same tax year?


KeithMWME

Question

I have put funds into my ISA for he 2020/21 tax year but want to trade some assets that are not allowed in the ISA wrapper (US ETFs).
Can I move some of the ISA funds into my standard share dealing account for a while then transfer the money back into the ISA later in the same tax year and still retain the tax free status and limit of £20,000 for the year?

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Update - found the answer myself:
When you transfer funds from your Flexible ISA, you can ‘replace’ it in the same tax year without affecting your total allowance.

I did a test transfer out of ISA and back in and it worked OK and didn't affect the annual ISA limit.

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