Flexible ISAs offer the freedom to withdraw money whenever you need it, without any penalties affecting your annual ISA allowance (subject to ISA rules). This could come in useful for:

• Surprise bills or expenses
• Taking advantage of a sale
• Other investment purposes

LandlordInvest’s Innovative Finance ISA (IFISA) is flexible. You can replace, in whole or in part, cash you have withdrawn, without the replacement counting towards your subscription limit for a tax year.

According to ISA regulations:

• withdrawals are deemed to be firstly of subscriptions for the current tax year and secondly of subscriptions for previous tax years; and
• replacements are deemed to be firstly of subscriptions for previous tax years and secondly of subscriptions for the current tax year.

You may also find further ISA guidance on GOV.UK.

Watch out though, as some flexible ISAs - particularly cash ISAs - have their own, often complex rules about withdrawals that include charging fees or lowering the interest rate if an investor exceeds a certain number of withdrawals in a given period.

Among the recent HMRC updates to ISA rules are changes to make it easier to open more ISAs with different providers and transfer funds between accounts. This offers improved flexibility but investors must consider that a Transfer is a longer process than the same-day withdrawal of cash from a LandlordInvest flexible ISA.

Some providers may also charge a Transfer fee, although LandlordInvest does not charge fees for Transfers In or Transfers Out.

To take advantage of a truly flexible ISA, open a LandlordInvest IFISA today. You can deposit from your bank account or transfer part or all of an existing ISA from another provider.

We take your money seriously and believe that transparency and the freedom to move it around is fundamental. Don’t miss out on tax-free returns* with flexibility and no hidden fees.

* Tax treatment depends on individual circumstances and may change.

Our blogs are for information purposes only. This content is not financial, legal or tax advice. Should you require any advice in relation to the earnings you make from LandlordInvest we recommend seeking independent professional advice. Links to other sites are provided for your convenience but LandlordInvest accepts no responsibility or liability for the content of those sites or of any external site. The information in this blog is correct at the time of posting.