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 ‘flexible’, you can take out cash then put it back in during the same tax year without reducing your current year’s allowance. Your provider can tell you if your ISA is flexible.

Your allowance is £20,000 and you put £10,000 into an ISA during the 2022 to 2023 tax year. You then take out £3,000.

The amount you can now put in during the same tax year is:

  • £13,000 if your ISA is flexible (the remaining allowance of £10,000 plus the £3,000 you took out)
  • £10,000 if your ISA is not flexible (just the remaining allowance)