Self Managed ISA and moving overseas

2ADH

Morning

My wife and I are planning to move to Australia (permanently) next year. I already have a self managed ISA. We have a house in the UK which we will rent out and generate an income. My question is whether I can open any more ISA's whilst abroad taking into account I have a UK income and will be subject to paying UK income tax.

I have checked on the HMRCs website and it is very unclear.

Can anyone help?

2ADH

innovate

HMRC website is very clear:

If you start an ISA in the UK and then go abroad, you cannot continue putting money into the ISA (unless you are a Crown employee working overseas or the spouse or civil partner of a Crown employee working overseas). However, you can keep your ISA and you will still get tax relief on investments held in the ISA. When you return, you can start putting money in again (subject to the normal annual limits).

http://www.hmrc.gov.uk/isa/faqs.htm#14