How an ISA works if you move abroad: UK guide

Planning to leave the UK and move abroad? Whether you’ll be working in Europe, backpacking around south-east Asia or retiring in Australia, you’ll have some financial admin to sort out before you go.

This includes dealing with your accounts, including bank accounts, savings accounts and ISAs.

In this handy guide, we’ll look at whether you can keep an ISA when moving abroad from the UK.

So, let’s get started.

Can I keep my ISA if I move abroad?

Yes, you can keep your cash ISA when you move abroad.

However, you won’t be able to make any more contributions to it. The only exception to this is for UK Crown employees working overseas or their spouse/civil partners.¹

You’ll also need to tell your ISA provider that you’ve left the UK and become a resident in another country.¹

What happens to my ISA if I move abroad?

Although you won’t be able to make any more contributions to your ISA if you leave the UK, your account will carry on working in much the same way.

This means two good things - the funds will continue to accumulate interest, and you’ll still benefit from UK tax relief on any interest you earn.¹

In effect, your ISA will sit there waiting for you. You can choose to close it and withdraw the funds at any point, or you can transfer it to another provider - you can do this from outside the UK.

You may decide to leave it open in case you return to the UK in the future. In that case, you can start paying into it again as soon as you become a UK resident, up to your annual personal ISA allowance.

What happens to LISAs and Stocks & Shares ISAs if you leave the UK?

The situation for lifetime ISAs (LISAs) and Stocks & Shares ISAs is pretty much the same as for cash ISAs. You can’t add money to them, but you will continue to benefit from tax-free interest.

However, there are a couple of extra things you need to know about LISAs in particular.

For LISAs - which are used for buying your first home or saving for retirement - you can’t use the funds to buy a property abroad. And if you do buy an overseas home, you can’t then use your UK LISA to buy a property in the UK (as it won’t be your first home).²

You can however use your LISA to save for retirement, although remember that you can’t put money in it while living abroad. You’ll be able to access the funds when you reach the age of 60.

If you decide to withdraw your money and close the account, you may face a hefty 25% early withdrawal fee.²

Can I open a new ISA when living abroad?

No, ISAs are unique to the UK and are only available to permanent UK residents.

This means you won’t be able to open a new one while living in another country. You’ll need to find another way to manage your savings.

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So, can you keep an ISA if you move abroad? Yes, absolutely - and you can continue earning tax-free interest on your savings pot. But you won’t be able to make any further contributions unless you return to the UK.

After reading this, you should be better informed to make a decision about whether to keep or close your ISA. It all depends on your circumstances and your future plans (for example, if you plan to return to the UK in a few years time).

It could be worth getting professional financial advice to help you make your decision.

All sources used for this article:

1. GOV.UK - Individual Savings Accounts (ISAs)
2. Tembo - info on Lifetime ISAs if moving abroad

Sources checked on 02-Jun-2025