ISA withdrawal from overseas

mhibsaleem

Hi,

After few years here in the UK I will be relocating back to Australia. Looking at forums it seems that I will be able to keep my cash ISA open. My bank has confirmed the same. However I do have the following questions:

- I know i will not be able to add to my ISA. But will I be able to withdraw from it while I am no longer a resident? I might want to relocate my cash when settled back in Aus.
- I know Aus and UK have a taxation agreement. Will I have to do anything regarding the interest?

Thanks alot!

Reed_Richards

mhibsaleem wrote: »

- I know Aus and UK have a taxation agreement. Will I have to do anything regarding the interest?

Almost certainly you will have to declare it on your tax return. Although ISA interest is not taxable in the UK, AFAIK that does not apply in any other country. So Australia will simply regard it as an account on which interest is paid gross (untaxed).