Planning to move abroad? Here is what you need to know about your ISA, Lifetime ISA (LISA), and Junior ISA (JISA) when you leave the UK.
- Individual savings account (ISA): You can keep adding money to your ISA until the end of the current tax year. For example, if you move abroad in September, you can pay in until 5 April at the end of that tax year.
- Lifetime ISA (LISA): You must stop adding money from the day you leave the UK. New payments are not allowed after you move. Using your LISA for anything other than buying a UK home or retiring in the UK will result in a 25% government charge.
- Junior ISA (JISA): You can keep paying into a JISA when you move abroad, up to the child's 18th birthday. After this, it becomes a regular ISA and the normal rules will apply.
You will not be able to open new savings accounts, set up new pots within an ISA, or move products to us while abroad.
Any money or investments in your ISA, LISA, or JISA will still benefit from UK tax relief after you leave. If you return to the UK, you can start making contributions again.