ISA allowance for the current year is: £20,000

[Eastusk]

New to IG, So forgive me for my ignorance.

 

   So we have a £20,000 allowance 21/22.

                If i deposited £20,000  

                Then withdrew £10,000

 

                Does that mean You can deposit a further £10,000

                 As my net Total Deposits 'Total Withdrawals. 

 

               Is £10,000

 

                                         Thanks in advance,East

                                                                                 Ps I`m finding it a bit difficult to navigate the website. LoL

 

 

[BigDeal]

@Eastusk

The rules regarding this depend whether the ISA is a 'flexible ISA' or not.   

If a provider offers a flexible ISA you can replace any funds you withdraw in the same tax year.  If they do not offer a flexible ISA then a withdrawal cannot be reinvested. 

In the case of IG their ISA is flexible :  https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/do-you-offer-flexible-isas