Does withdrawing impact my ISA allowance for this year?

Our Stocks and Shares ISA is a flexible ISA. This means you can take money out then pay it back in the same ISA in the same tax year without it counting towards your annual ISA allowance. 

For example, you have £50,000 in your ISA which you've invested in previous tax years.

You take out £50,000 in the current tax year. You can now pay up to £70,000 into your ISA in the same tax year. (The £50,000 you withdrew plus your £20,000 annual ISA allowance). 

The full annual allowance only applies if you have not invested in another ISA in the same tax year, with another provider.

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