As with all investing, your capital is at risk. The value of your portfolio with Moneyfarm can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you are unsure investing is the right choice for you, please seek financial advice.
ISAs are a great way for people to work towards their financial goals. Whether you’re saving through a traditional managed ISA, a Stocks and Shares ISA, a JISA or any other ISA product, ISAs provide a tax-efficient way for you to save. However, not all ISAs offer the same level of flexibility when it comes to accessing your hard-earned savings.
Many ISA products won’t allow you to withdraw your savings, even if you reinvest later during the same tax year, without incurring penalties against your tax-free allowance.
This is where the Flexible ISA comes into play.
Flexible ISAs provide the flexibility and easy access to funds that many savers need throughout the course of their investment journey. This means that money taken out of an ISA can be returned within the same tax year, without reusing or losing any allowance.
Are Moneyfarm ISAs flexible?
At Moneyfarm, we believe that you should be in control of your finances – and we understand that sometimes temporary circumstances can be a hurdle when it comes to long-term investment.
In practice, this means that, say you contribute £20,000 before the deadline of this tax year. Next tax year, you can take all £20,000 out, for example, at which point your allowance with Moneyfarm would be £40,000. This is next year’s allowance, plus the ability to add back the funds that you needed.
What are the other benefits of flexible ISAs?
- Ease of access: The flexibility offered by Flexible ISAs enhances convenience, enabling individuals to use their savings for various purposes without worrying about losing tax benefits or exceeding the ISA contribution limits.
- Adaptability: This feature makes Flexible ISAs suitable for individuals with fluctuating financial needs or unexpected expenses, as they can access their savings when required without losing out on their tax-free ISA allowance.
- Greater control over your money: Flexible ISAs provide individuals with greater control over their savings, allowing them to manage their finances more effectively by accessing funds when needed and replacing them later without penalty.
- Investing for the long term: Despite the flexibility for withdrawals, Flexible ISAs still encourage long-term saving as it allows you to not need to keep an excessive rainy day pot.
- Peace of mind: Knowing that you can access your savings as and when you need allows you to respond to changing circumstances, giving you greater peace of mind in your financial security.
Why open a Flexible ISA with Moneyfarm?
We give you the choice to invest in a range of products and services that match your specific investment goals. Whether you want us to look after your money for you with a managed ISA or you’d like to take control of your own investment strategy, we’re here to help.
So why should you consider saving for the long term with us?
- Investing, your way
You can choose to have your savings managed by our expert team, with a range of fully managed, ready-to-go portfolios, or invest in a vast array of individual UK stocks, ETFs, and UK mutual funds with a Stocks and Shares account.
- Transparent, competitive pricing
At Moneyfarm, we’re committed to providing our clients with low, transparent pricing across all our products and services, to help you get the most from your savings and investments.
- Enhanced strategies
Level up your Moneyfarm experience with different investing strategies – ESG, Thematic Investing, or Liquidity+, our smart, short-term investment solution.
If you’d like more information on your Moneyfarm ISA or would like to open an ISA with us, why not book an appointment with one of our experts? You can do so via this link or call us on 0800 433 4574. You can also email hello@moneyfarm.com or start an online chat session.
*As with all investing, financial instruments involve inherent risks, including loss of capital, market fluctuations and liquidity risk. Past performance is no guarantee of future results. It is important to consider your risk tolerance and investment objectives before proceeding.
