Flexible ISAs

Flexible ISAs were introduced in April 2016.

The basic concept is that money can now be moved in and out of an ISA without counting against your annual ISA allowance, as long as it is replaced within the same tax year.

What is a flexible ISA?

A flexible ISA allows you more flexibility with your savings (hence the name). The basic concept is that money can now be moved in and out of an ISA without counting against your tax-free allowance.

As long as any money you’ve taken out is replaced within the same tax year, your total ISA allowance for the year is unaffected.

You can even use this flexibility to withdraw funds subscribed in previous tax years and replace these funds without affecting your current ISA allowance.

How will I know if my ISA is flexible?

Not all banks and building societies are required to offer flexible ISAs, so it’s important to check the terms and conditions, or speak to your ISA manager, before making any withdrawals. If your ISA is not flexible, making a withdrawal and then paying funds back into the account will be classed as a subscription and will count towards your annual allowance.

Here at the Newcastle, we’ve already made most of our cash ISAs flexible*, including existing accounts that we no longer offer to new customers. If you already hold an ISA with us you will notice a change in your terms and conditions.

*Please note that flexibility isn’t available in Junior ISAs or in Help to Buy: ISAs, therefore these accounts remain as standard ISAs.

Flexible ISAs and CustomISA

Just like standard ISAs, flexible ISAs can be either cash, or stocks and shares. You can still only subscribe to one cash and one stocks and shares ISA each tax year, whether or not these are flexible. You can still split your full ISA allowance for the tax year between cash and stocks and shares however you want.

However with Newcastle Building Society’s CustomISA facility, you can spread your annual tax-free allowance across as many ISA products as you like.

You no longer need to choose between locking your money away for a longer period in order to get the best interest rate, or settling for a lower rate so you can access your funds, because CustomISA allows you to split your money between several accounts, getting a balance that’s right for you and we’ll count all of your ISAs as one account.

Stocks and Shares Flexible ISAs

Newcastle Building Society does not offer stocks and shares ISAs, although we can introduce you to a Financial Adviser from our wholly owned subsidiary company, Newcastle Financial Advisers Limited (NFAL), who can offer face to face advice on investment ISAs.

To get in touch with a Financial Adviser, you can call 0345 600 4330 (9am-5pm Monday to Friday), make an appointment online or pop into your local Newcastle Building Society branch.


Newcastle Building Society introduces to Newcastle Financial Advisers Limited for investments, pensions, inheritance tax planning, financial advice and life cover. Newcastle Financial Advisers Limited is an appointed representative of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.