Pls provide Flexible ISA

Can T212 add Flexible ISA, I think it will be useful as some stock I would like to but not part of ISA.
I would like buy some stocks for short-term and then move the money back to ISA.

Is this allowed under Flexible ISA? Are there any plans for Flexible ISA?

Thank you.

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Ideally a flexible ISA would be great, but I donā€™t think itā€™s on the card to be implemented anytime soon. (That iā€™m aware of).

In a flexible ISA the money you withdraw would count against your allowance, but when you re-deposit only the withdrawn amount could be put back in and additional funds will use up more allowance. you also have to consider that since you are investing outside of the ISA, you will have to keep track of how much capital gains and dividends are made, so if you end up passing the allowance threshold you would need to pay taxes on those funds before deciding how much to put in the ISA again.

If you are wanting to invest in shares that you canā€™t with an ISA, just do so from the beginning as it is less complicated. You have to earn a certain amount before you pay the taxes anyways.


Example:
you deposit Ā£20k into your ISA and withdraw Ā£5k for short-term trades which return you Ā£7.5k. your flexible ISA would have adjusted your limit allocation back to Ā£15k because of the withdrawal, however that means you can only deposit the Ā£5k you took out and not the Ā£7.5k you made in the trades.

say you withdrew Ā£10k for short-term trades and your allocation adjusted back to Ā£10k. if you made Ā£15k profit in trades, not only could you deposit just the initial Ā£10k back into your ISA, you have to pay capital gains taxes for exceeding the Ā£12.3k allowance by Ā£2.7k as itā€™s not inside the ISA tax-wrapper.


Since T212 doesnā€™t have plans for a Flexible ISA yet, you might as well keep the money inside your ISA and set aside money for the short-term trades ahead of time, then use the profits to fill your ISA limit while still having funds to trade.

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I vote for flexible ISA with T212. Please add this as soon as you can. Thanks

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One of the thing that stops me from funding T212 ISA is, its not flexible like others like Vanguard etc.
Can you look into making the ISA Flexible please?
Its just accounting calculation that you need to consider and hope not too difficult for your tech team to implement.

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What do you mean make the ISA flexible?

100% agree with this request. I would be likely to add more to my ISA if it were flexible rather than feeling I had to hold more back.

These are the rules for flexible ISAs
https://www.moneysavingexpert.com/savings/flexible-isas/

EDIT - it mentions Cash ISAs primarily but the principle is the same.

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Having a flexible ISA is not something in our plans at the moment. Iā€™ll let you know if anything changes, though.

It means you can withdraw and replace without penalty

An example would be that currently if you deposit 18k in a 212 ISA, and withdraw 10k, you only have 2k left to deposit and not 12k (assuming no other ISAs).

I guess hypothetically if you are investing long term in the stock market, then flexible IsAā€™s should not be an issue, as you should leave the funds long term in a non taxable wrapper.

the key is in the word Flexible. Not everyone wants flexibility, but most do.
For example I have big payments to make month end, until then I can use the money in the market. Also, I donā€™t need certain amount of money until x month, and it can be invested in the Flexible ISA tax free.

Same can be done in normal Investment account, but profits are taxable.

Whatever it is, I donā€™t think I need to explain the benefits of Flexible ISA. Those who understand it earns it, those donā€™t loses it.

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Iā€™m all for making Isas flexible. Iā€™ve ā€˜lostā€™ a few thousand of this yearā€™s allowance because I had to make an unexpected withdrawal.

However, you shouldnā€™t treat a stocks and shares Isa like an easy access savings account. If you need money in monthā€™s time, keep it in cash.

Part of me likes an inflexible Isa because it makes you really think about withdrawing. As @Dougal1984 says, itā€™s best to stay invested in the long term.

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I disagree with stay invested all the time. Market doesnā€™t always go up.

Having flexible is always better than not.

Whilst this is true, >80% of people are terrible at timing markets and as such their returns are lower than investing long term in a cheap global tracker.

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Whist that may be true in some cases, it has not been for my case. The more active I am with trading the better profits I make, rather than set and forget. Not everything is like Bitcoin.

Please add ISA Flexible feature

No need to start a new thread about the same thing every day, mate.

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Other was in the wrong section, should be under Feature suggestion.

Iā€™m sure the guys from T212 must have seen it. :wink:

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