Flexi ISA functionality allows your client to withdraw money from their ISA and reinvest it back into the ISA within the same tax year, without it affecting their ISA allowance.
For example, if your client withdrew £10,000 from their ISA, then the £10,000 plus any of your client’s unused £20,000 ISA allowance could be put back into the ISA, as long as they did so before the end of the tax year.
If your client wishes to take advantage of this functionality, then please note they can withdraw up to a maximum of 95% of the value of their ISA. If more than this amount is withdrawn, the ISA may be closed, and it will not be possible to replenish or add any new money to the account.
Please note that only withdrawals and adviser fees taken from your client’s ISA since migration, can be replenished in the 2020/21 tax year.