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Moving money - will I be charged tax?
Varenna14
Posts: 7 Forumite
I have some money in a stocks and shares ISA (6k), I want to move it in to a debit account to buy something but want to know if I will be charged tax on it?
I don’t work so not paying tax and I wondered if this would be taxable or not?
Thanks
0
Comments
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No, you don't pay tax on ISA contents, even in the process of withdrawing them, although any income subsequently derived from that money (e.g. interest) when outside the ISA wrapper may be taxable.0
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