Withdraw Money From Isa

[camioneur]

I've never withdraawn from a fixed rate cash ISA but I have need to temporarily withdraw large amounts from them now. The rules seem very complicated in that you can replace withdrawn funds in the same tax year but nowhere can I find if you can withdraw for example 50K from an ISA and then replace the whole 50K in the same tax year or is it just the 20K annual allowance you can replace, does anyone know?

[barry1010]

Firstly, do you have a fixed term ISA or a fixed rate ISA? 

Is it a flexible ISA?

I found this which may be helpful

"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."

https://www.vanguardinvestor.co.uk/need-help/answer/does-withdrawing-impact-my-isa-allowance-for-this-year

Of course, you should clarify this with your bank before relying on it.