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  • FIRST POST
    • mhibsaleem
    • By mhibsaleem 22nd Aug 19, 10:43 PM
    • 1Posts
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    mhibsaleem
    ISA withdrawal from overseas
    • #1
    • 22nd Aug 19, 10:43 PM
    ISA withdrawal from overseas 22nd Aug 19 at 10:43 PM
    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!
Page 1
    • Reed_Richards
    • By Reed_Richards 23rd Aug 19, 6:26 AM
    • 571 Posts
    • 335 Thanks
    Reed_Richards
    • #2
    • 23rd Aug 19, 6:26 AM
    • #2
    • 23rd Aug 19, 6:26 AM
    - I know Aus and UK have a taxation agreement. Will I have to do anything regarding the interest?
    Originally posted by mhibsaleem
    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).
    Reed
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