S&S ISA when moving abroad

CreditCardChris

Hi, if you have a S&S ISA with some amount of money invested and you move abroad, of course you can't continue paying into it anymore but do you legally have to sell your investments and withdraw your money before you move? If you're allowed to keep the account open, when you eventually do sell do you then have to pay tax on it in the UK?

Thanks.

colsten

An existing ISA need not be closed if you become non-resident, but further subscriptions to the ISA cannot be made unless and until you meet the residence qualification again.

Note that income from your ISA assets might be taxable in the country you are moving to.

colsten

Google finds the following on gov.uk

CreditCardChris

I probably should have tried Googling first but thanks for the quick reply.

Socajam

Put the money in NS&I - Premium Bonds or Direct Saver whilst abroad

CreditCardChris

Socajam said:

Put the money in NS&I - Premium Bonds or Direct Saver whilst abroad

Why would I do that instead of keep it in the stock market?

Socajam

CreditCardChris said:

Socajam said:

Put the money in NS&I - Premium Bonds or Direct Saver whilst abroad

Why would I do that instead of keep it in the stock market?

It was just an idea, you are at liberty to do whatsoever you want.

badger09

colsten's link shows that per gov.uk, you can transfer an existing ISA when abroad, which HMRC rules allow.
However, from experience of close family member, it is impossible to so as ISA providers will not accept any application from non UK resident. So - if possible, make sure your ISA is where you want it to be before you go