Flexible cash ISA

A Cash ISA is a tax-free savings account. You don’t pay tax on the interest you earn.

Since April 2024, you can now open and pay into multiple Cash ISAs in a tax year, as long as you stay within your annual ISA allowance of £20,000.

Our flexible Cash ISA has all the same benefits as a regular cash ISA. The benefit of a flexible ISA is that you’re able to withdraw and re-deposit the same amount into the same ISA within the same tax year, without affecting your remaining annual ISA allowance.

Yes, you can. All you have to do is open an account, fill out our transfer form in the app, and we’ll work with your current provider to transfer your cash on your behalf. Learn more about our transfer process.

However, if you are transferring a fixed-rate ISA before maturity (when the fixed-rate ISA ends), you may incur an early closure charge or penalty from your current provider.

Our Cash ISA is variable, which means the rate can go up and down depending on factors such as the Bank of England base rate.

If we change our interest rate, we will notify you via email and in the app.

Our ISAs are flexible, allowing you to withdraw cash from your account and re-deposit it within the same tax year without using additional ISA allowance. To help you track your remaining allowance, your account displays it in real time, factoring in any amounts withdrawn that can be re-deposited. If you withdraw more than you've deposited in the current tax year, your remaining allowance may appear as a negative value, indicating you can deposit more than the usual £20,000 limit.

For example, if you have £15,000 in your Cash ISA from previous years and haven't used any of your £20,000 allowance for the current tax year, withdrawing £5,000 will show your used allowance as -£5,000. Your remaining ISA allowance will then display £25,000, reflecting the amount you can re-deposit this tax year.

Yes, CMC Markets Investments Limited (registration number 948126) is fully authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Retail client money is held in segregated client bank accounts, and money held on behalf of clients is distributed across a range of major banks, which are regularly assessed against our risk criteria.

Yes, your eligible deposits with CMC Markets are protected up to a total of £120,000 by the Financial Services Compensations Scheme (FSCS), the UK's deposit guarantee scheme. If CMC Invest ever went into liquidation, retail clients would have their share of segregated money returned, minus the administrator's costs in handling and distributing these funds. Any shortfall of funds up to £120,000 may be compensated under the FSCS.

Under the FCA's client money rules, we're required to segregate client money from our own funds (unless you agree with us otherwise). The money held in segregated bank accounts does not belong to us and will be held in a way that enables it to be identified as client money. Learn more about client money regulations.

In the UK, you won’t need to pay capital gain tax (CGT) on any profits you make from selling investments, and dividend tax on income you receive from companies in your stocks & shares ISA and self-invested personal pension (SIPP). Any profits and dividend income to your general investment account is taxable and will be shown in your ‘Consolidated Tax Certificate’, provided to you following the end of each tax year. Tax treatment depends on your individual circumstances and may be subject to change in the future.

Visit our contact us page for details on how you can get in touch with us.