isa

[Jeffro]

In the last 12 months i have put �3000 into my mini cash isa . If i withdraw say �1000 can i put another �1000 back in?

[chitchat]

No you cant. �3000 is the limit per tax year regardless of withdrawls. Good news is that the new tax year starts on 6th April when you can make another �3000 deposit for the next tax year.

[Jeffro]

thanks Chitchat
Jeff

[WendyS]

Somebody please correct me if I'm wrong but I was under the impression that the maximum you could deposit in any one tax year was �3000, but if you withdrew �1000 in the same tax tax, and then deposited �1000 back in that same tax year to bring the total back to �3,000. that was still within the rules ??

[birdwoman]

Wendy Chitchat is correct. The maximum you can pay in during a tax year is �3000 regardless of how much you withdraw.

http://www.bbc.co.uk/radio1/onelife/finance/sa vings/isa2.shtml

[Nether Edge]

But you could alternatively invest up to �7000 if it's a maxi stocks and shares ISA.