Individual Savings Accounts (ISAs)
Withdrawing your money
You can take your money out of an Individual Savings Account (ISA) at any time, without losing any tax benefits. Check the terms of your ISA to see if there are any rules or charges for making withdrawals.
There are different rules for taking your money out of a Lifetime ISA.
If your ISA is 鈥榝lexible鈥�, you can take out cash then put it back in during the same tax year without reducing your current year鈥檚 allowance. Your provider can tell you if your ISA is flexible.
Example
Your allowance is 拢20,000 and you put 拢10,000 into an ISA during the 2024 to 2025 tax year. You then take out 拢3,000.
The amount you can now put in during the same tax year is:
- 拢13,000 if your ISA is flexible (the remaining allowance of 拢10,000 plus the 拢3,000 you took out)
- 拢10,000 if your ISA is not flexible (just the remaining allowance)