Originally Posted by Globaliser

I think so. I believe that there is currently no difficulty with refunding (on request) an FTV from an award booking. What happens is that the Avios go back to your account, and you get the cash element back minus the appropriate cancellation fee. (Caveat: I have personally only done this with FTVs on which the cash element was £0.50.) So that ability seems to be part of the FTV system. I imagine that even if the 2-4-1 voucher has expired by the time that you request the refund of the FTV, you should still get the Avios and cash back.