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The Retirement Thread

174 watchers
K5 Gus
K5 Gus
Mar 2024
10:39am, 21 Mar 2024
6,090 posts
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K5 Gus
The rules regards withdrawals changed - you can now withdraw, then put it back in in the same tax year. eg Put in £20k, withdraw £12k, then put £5k back in is now allowed in the same tax year. If you put the £5k in after 6th April, then that counts for the next tax year.
bigleggy
bigleggy
Mar 2024
10:41am, 21 Mar 2024
7,435 posts
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bigleggy
:-) ah , didn't know that bit Gus. Thanks
K5 Gus
K5 Gus
Mar 2024
10:41am, 21 Mar 2024
6,091 posts
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K5 Gus
Sorry, should have said this only works if your ISA is "flexible" check with your ISA provider

gov.uk
EvilPixie
EvilPixie
Mar 2024
10:43am, 21 Mar 2024
52,773 posts
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EvilPixie
I wouldn't be looking to put back in just take out
so in theory I could take out some then 2 months later take out more etc without issues?
(sits back to continue forming a plan)
K5 Gus
K5 Gus
Mar 2024
10:44am, 21 Mar 2024
6,092 posts
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K5 Gus
Yes, you don't need to close the account to make a withdrawal, you can make partial withdrawals
EvilPixie
EvilPixie
Mar 2024
10:44am, 21 Mar 2024
52,775 posts
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EvilPixie
(beams)
thank you!
Velociraptor
Velociraptor
Mar 2024
10:59am, 21 Mar 2024
68,270 posts
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Velociraptor
Yes, you can, Pix, which makes S&S ISAs a really useful vehicle for people who either will want to retire before pension age or will be looking to avoid tax thresholds when taking income in retirement.
EvilPixie
EvilPixie
Mar 2024
11:01am, 21 Mar 2024
52,776 posts
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EvilPixie
excellent news
jda
jda
Mar 2024
11:53am, 21 Mar 2024
16,737 posts
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jda
Bearing in mind if you only have a few grand there's no/negligible tax to pay anyway, outside of an ISA. Though this situation is changing with the virtual abolition of the CGT exemption (which was 12k per year, then halved to 6k, now being halved again to 3k).
Ness
Ness
Mar 2024
11:56am, 21 Mar 2024
39,427 posts
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Ness
Mr Ness and I have used money from my ISA, Pix. At the moment we're putting it back at a rate of £100 per month to be sure I have enough to fund my hip replacement if/when its required.

About This Thread

Maintained by Sigh
A place for baggy spaciousness: "The quality of time, soft attention and ease that we could enjoy 'doing nothing' "
(thanks to TheScribbler for the term (p1516)!)
( see also: neilthewriter.co.uk
and
darkangelswriters.com )

Retirees Hall of Fame

star CumbriAndy star (17.04.25)
Dillthedog (27.03.25)
westmoors (27.03.25)
dobbers (26.02.25)
McGoohan (15.01.25)
Marmite (01.01.25)
Roobarb (20.12.2024)
gribb0 (20.12.24)
3M (18.12.24)
Jigs (25.09.24)
Synge (30.08.24)
Silvershadow (02.08.24)
Hibeedeb (02.08.24)
Winniefree (08.07.24, 2nd attempt)
EvilPixie (24.06.24)
Snail (21.06.24)
GregP (14.06.24) (after part retirement 31.03.23)
Fizz :-) (13.06.24)
Jaks (15.05.24) (third time of retiring)
HellsBells (31.03.24) (orig. May 2018)
TROSaracen (07.02.24)(semi retired since mid 2019)
Hanneke (01.02.24)
Jenni-far-far (28.12.23)
FergusG (22.12.23)
Mrs Jigs (Luverlylegs) (11.12.23)
eL Bee! (30.11.23)
Lip Gloss (22.11.23)
jda (28.08.23)
RFJ (23.08.23)
Sigh (28.07.23)
Schnecke (end of school term 07.23)
Sharkie (05.07.23)
Ally-C (08.06.23)
Rebel (12.05.23)
CogNoscensme AHA (07.04.23)
Windsor Wool (05.04.23)
Bob! (30.03.23)
Velociraptor (21.03.23)
Garfield (provisional, 27.02.23) (see p.699)
ThorntonRunner (20.12.22)
DrMags (30.07.21)
MaltDrinker (30.07.21)
DoricQuine (15.06.21)
Mandymoo (21.05.21)
Eynsham Red (06.05.21)
GimmeMedals (31.08.20)
Steve NordRunner (01.08.19)
um (May 2017)
macca 53 (31.10.17)
XB (07.07.16)
Flatlander (November 2011)
Helegant
Ness
SarahWoo
Rosehip
alpenrose
Johnny Blaze
annadav
K5 Gus
Curly45
LazyDaisy
Dave..M
jabberknit
Shades
Northern Exile
Nick Cook

[other names to follow, on request]

In the Waiting Lounge, with one eye on the door

B Rubble (June 2025)
GeneHunt59 (target: July 2025)
RRR-CAZ (September 2025)
Bigleggy (target: December 2025)

geordiegirl (target: May/June 2026)
HappyG (target: June 2026)
Runningbauble21 (target: June 2026)
MadWelshWoman (target: Summer 2026)
OverTheHillToo (target: approx. 2026)

Diogenes (17.03.27)
cathrobinson (target: 2027 onwards)
Hills of Death (HOD) (April 2026-April 2030)
Dave A (June 2030)
Gromit (July 2030)
CK2 (2030)

[other names to follow, on request]

Just browsing at the moment

Bazoaxe
Daz Love
Totriornottotri
DIY Diva

[other names to follow, on request]

Retirement Failures

Currently empty :-)

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