Individual Savings Accounts (ISAs)

If you move abroad or die

If you move abroad

If you open an Individual Savings Account (ISA) in the UK and then move abroad, you can’t put money into it after the tax year that you move (unless you’re a Crown employee working overseas or their spouse or civil partner).

You must tell your ISA provider as soon as you stop being a UK resident.

However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it.

You can pay into your ISA again if you return and become a UK resident (subject to the annual ISA allowance).

If you die

Your ISA will end when either:

  • your executor closes it
  • the administration of your estate is completed

Otherwise, your ISA provider will close your ISA 3 years and 1 day after you die.

There will be no Income Tax or Capital Gains Tax to pay up to that date but ISA investments will form part of your estate for Inheritance Tax purposes.

Your ISA provider can be instructed to sell the investments and either:

  • pay the proceeds to the administrator or beneficiary of your estate
  • transfer the investments directly to them

Check the terms and conditions of your ISA for details.

If your spouse or civil partner dies

If your spouse or civil partner dies you can inherit their ISA allowance.

As well as your normal ISA allowance you can add a tax-free amount up to either:

  • the value they held in their ISA when they died
  • the value of their ISA when it’s closed

Contact your ISA provider or the provider of your spouse or civil partner’s ISA for details.

If your spouse or civil partner died from 3 December 2014 to 5 April 2018

Their ISA ended on the date of their death. ISA investments will form part of their estate for Inheritance Tax purposes.

Their ISA provider can be instructed to sell the investments and either:

  • pay the proceeds to the administrator or beneficiary of their estate
  • transfer the investments directly to them

You can inherit their ISA allowance. As well as your normal ISA allowance, you can add a tax-free amount up to the value they held in their ISA when they died.

Contact your ISA provider or the provider of your spouse or civil partner’s ISA for details.