Flexible ISAs Clause Samples

The Flexible ISAs clause allows account holders to withdraw and replace funds within the same tax year without affecting their annual ISA subscription limit. In practice, this means that if an individual withdraws money from their ISA, they can pay the same amount back in during the same tax year, in addition to their normal annual allowance, without losing any tax benefits. This clause provides greater flexibility and control over savings, solving the problem of penalizing temporary withdrawals and encouraging more active management of ISA funds.
Flexible ISAs. Where you have made a cash withdrawal from a Flexible ISA, ▇▇▇▇▇▇ will accept repayment of all or part of the withdrawal amount subject to the following provisions: i) The repayment is made within the same tax year as the withdrawal ii) The repayment is made into the same ISA as it was withdrawn from iii) Any payment received is deemed to be a replacement to the amount withdrawn before any amount can be viewed as a new subscription iv) Any payment received which exceeds the amount previously withdrawn in that tax year will be viewed as a new subscription v) If you make a subscription for the current tax year and then withdraw the full subscription, you will still have made a subscription to the ISA and cannot subscribe to a different Stocks and Shares ISA for that tax year. The withdrawal of stock will not create a flexible ISA allowance. If money is withdrawn from your Flexible ISA and not replaced prior to transferring your ISA to another ISA Manager, no repayment can be made to the new ISA manager
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Related to Flexible ISAs

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • Flexible Benefit Plan The District will maintain, at no cost to the employee, a flexible spending benefit plan pursuant to Section 125 of the Internal Revenue Code, with operating procedures determined by the District in accordance with IRS regulations. This plan may be used for favorable income tax treatment of the employee’s health and dental premium contributions, deductibles, co-insurance amounts, other unreimbursed medical expenses, and dependent care assistance.

  • Flexible Spending The Board shall make flexible spending accounts available to employees in the bargaining unit.