isa

[ayooyebade]

A UK citizen holds an ISA but is now non resident for UK tax, can she hold on to the ISA or does she have to cash it in?

[kags]

You must be resident and ordinarily resident for UK tax purposes to hold an ISA. She will have to transfer the funds to an ordinary savings account.

[kags]

sorry - my answer was wrong - if the account was opened whilst resident for tax purposes she can hold on to the ISA with tax relief but not continue to add to it. If she then returns to become UK resident for tax purposes she can start adding funds again. Sorry about that, replied without thinking the question through properly.