FLEXIBLE ISA

[Ashishgabrial]

[FEATURE REQUEST] - FLEXIBLE ISA ACCOUNT.

Upgrade the ISA stock and shares account into a Flexible Type account, This will really help give us the flexibility to use our money without loosing the ISA Allowance.

Explanation below:

Example
Your allowance is £20,000 and you put £10,000 into an ISA during the 2023 to 2024 tax year. You then take out £3,000.

The amount you can now put in during the same tax year is:

• £13,000 if your ISA is flexible (the remaining allowance of £10,000 plus the £3,000 you took out)
• £10,000 if your ISA is not flexible (just the remaining allowance)

[ItSecTrader (Warren Lynch Smith)]

Hi @Ashishgabrial,

This feature already has a request thread. Please see below

[Feature Request ] Flexible ISAs

Hey all, A quick question for Freetrade/community- Will ISA accounts be ‘flexible’? As in, money withdrawn from the ISA is added to the Tax Free Allowance. Example: ISA allowance £20,000 £5,000 subscribed to Freetrade ISA. Remaining allowance £15,000 £2,000 withdrawn from Freetrade ISA. Remaining allowance is £15,000 but would be £17,000 in a Flexible ISA. I don’t know how set account properties are at this point but it would be interesting to hear the other members’ opinion on this and wh…

[Bob1 (Bob)]

Em…you know FT don’t make up the rules of an ISA?

(Well apart from fractional shares…kinda )

Not possible to have this flexible ISA inside the rules. The set limit is for deposits, irrespective of withdrawals.

Edited: ok there does seem to be some flexible options, see below

[thunderbunny (Simmo)]

You can do it with some cash ISA’s. Not seen anyone offer it with S&S ISA’s.

[Bob1 (Bob)]

I couldn’t see how its possible within the rules, however given your comment I did find this :

https://www.moneysavingexpert.com/savings/flexible-isas/#what

[Jim_mcgrain (Jim)]

@thunderbunny

You can do it with some cash ISA’s. Not seen anyone offer it with S&S ISA’s

The Vanguard S&S ISA is flexible.

[fm0]

@thunderbunny

You can do it with some cash ISA’s. Not seen anyone offer it with S&S ISA’s.

Freetrade has been promising to provide flexible isa since 2018, but nothing till date.

Many others already provide flexible S&S ISAs:

• Trading 212 (from May 2024)
• IG
• Vanguard
• Barclays Smart Investor
• Hargreaves Lansdown
• BestInvest
• Share Deal Active
• Charles Stanley Direct
• Aviva

[fm0]

Trading212 is far better than FreeTrade product wise and in listening to customer demands.

T212 are making their S&S ISA and Cash ISA as Flexible.

[Eden]

It’s not something 212 currently offer, as you already know.

FYI there’s already a topic on this here [Feature Request 🔧] Flexible ISAs 🤸

And to your previous post, freetrade haven’t promised this feature at all

[Eden]

Oh where? I know they’ve said it’s something they’ve been looking at and are interested in at some point. But I hadn’t seen a message from them saying they promise to deliver it as a feature

[Eden]

You quoted me on Freetrade not 212… I know 212 said they plan to bring them sometime soon, I just mentioned that they don’t have them yet