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Learn about flexible ISAs

Most of our easy access and limited access ISAs with variable rates are flexible ISAs.

How does a flexible ISA allowance work?

The amount you withdraw from a flexible ISA can be paid back in during the same tax year without counting towards your annual ISA allowance of £20,000. This flexible ISA allowance resets to zero every year on 6 April.

Flexible ISA allowance explained - Barry’s story

Barry's had an easy access ISA for five years now, including the current tax year. He wants to buy a new car and has budgeted for £13,000.
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Cash ISA jar illustration
Barry has £55,000 saved from previous tax years and hasn't yet paid anything in during the current tax year. 
Cash ISA jar illustration
Barry withdraws £13,000 for the car, leaving him with a balance of £42,000 in his ISA.
Cash ISA jar illustration
As long as Barry pays back the £13,000 this tax year (the same tax year in which he has withdrawn it) it will continue to be part of his previous years' ISA savings, and he can still pay in this year's allowance of £20,000. If he doesn't pay the £13,000 back before the end of the tax year, then this flexible allowance disappears.
Explore our ISAs

Is my ISA flexible?

Many of our cash ISAs are flexible. If you have one of our fixed rate ISAs, it isn't flexible. That’s because our fixed rate ISAs aren't designed for regular deposits and withdrawals.

If you’re not sure if your ISA is flexible you can call us or ask in branch.

Can I transfer my flexible allowance to another provider?

You can’t transfer your flexible ISA allowance to another provider.

That is why replacement of flexible ISA funds must be made to the account from which the withdrawal was made and within the same tax year.

Remember, if you transfer the ISA to another provider and close the account, you lose any flexible ISA allowance you've created.

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