Investors will be able to withdraw and reinvest cash held in stocks & shares ISAs without affecting their annual limits as of April 2016, the Treasury has said.
The move is a step on from the plan revealed in March's Budget to create a "radically more flexible" ISA regime. Chancellor George Osborne said in March the move would give savers "complete freedom to take money out and put it back in without losing their tax entitlement". The reform, originally planned for this Autumn but now scheduled to come into force next April, will now also apply to cash held in stocks & shares ISAs, the Treasury said today. The Treasury had told Investment Week in March that the reform was only targeted at cash ISAs. Today's change effectively levels the...
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