Originally published at: Our ISAs are now flexible – what this means for you – InvestEngine Insights
It’s been a busy 2024 at InvestEngine, but before we close out the year, we have one final announcement about the service.
InvestEngine ISAs are now ‘flexible’. This means that you can withdraw from your ISA and later reinvest that money without further affecting your ISA allowance.
So, imagine you have invested £12,000 in the current tax year, leaving another £8,000 in your available ISA allowance. With a flexible ISA, you could withdraw £5,000 and later reinvest it, without reducing your remaining allowance to £3,000 – you’d still have that £8k to play with in the current tax year.
Previously, withdrawing and reinvesting that £5,000 would have further reduced your allowance.
In a sense, you can now ‘borrow’ from your ISA. Just bear in mind you have to reinvest the ‘borrowed’ cash within the same tax year for this to apply.
Also, with InvestEngine, remember that you won’t pay a penny in trading fees — not when you sell or when you buy back again.
Flexible ISAs are just another way of making investing more, well, flexible.
Important information
Capital at risk. The value of your portfolio with InvestEngine can go down as well as up and you may get back less than you invest. ETF costs also apply.
This communication is provided for general information only and should not be construed as advice. If in doubt you may wish to consult a professional adviser for guidance.
Tax treatment depends on personal circumstances and is subject to change, and past performance is not a reliable indicator of future returns.