palkin904:
Q: Will leaving the application in between have any repercussions on me the next year when i re apply (technically applying for the first time)?
A: No, it doesn't matter. Unless it's a rolling admission, the AdCom looks at all the applications the same way whether they were submitted on the first day the application opens or a minute before the deadline. This will have no bearing.
Q: Should i inform the admissions committee about leaving the application process in between?
A: No, it's not necessary. Focus on putting together the best application possible (with a particular focus on the essays, resume, short-answer questions, etc.) and then your interview.
Good luck,
Admissionado