Most of our variable rate ISAs are flexible. That means you can take money out and then replace it in the same tax year. And it won’t count towards your annual allowance of £20,000 for the current tax year.
So let’s say, for example, that at the beginning of the tax year, you took £15,000 out of your ISA. This would mean that up until the end of 5 April, you’d be allowed to pay in up to £35,000 (the £15,000 you took out, plus your annual ISA allowance of £20,000).
Be aware though: you can’t transfer any flexible allowance to another organisation.
If you have a Coventry fixed rate ISA, it isn't flexible. That’s because our fixed rate ISAs aren't designed for regular payments and withdrawals.
If you're not sure whether your ISA is flexible, just call us or ask at any branch.