Can you withdraw money from your ISA account?
Learn more about ISA withdrawals, tax benefits and managing fees across different ISA types.
Key points
- You can withdraw money from an ISA at any time without paying tax on withdrawals.
- With most ISAs, withdrawn amounts usually reduce your remaining annual allowance unless the ISA is flexible.
- Some ISA providers may apply withdrawal charges or notice periods, so checking specific account terms is important.
- Rules differ by ISA type; for example, Lifetime ISAs can incur a 25% government withdrawal penalty.
An Individual Savings Account (ISA) is a special type of account that lets you keep more of your money because you don't pay UK Income Tax and Capital Gains Tax on what you earn from it. It's a great way to save or invest your money.
Please note that the value of a Stocks & Shares ISA can fall as well as rise, and you could get back less than you put in. Investing should generally be considered a long-term approach, and while you can add or withdraw money during the tax year, doing so may affect your overall returns.
With a Cash ISA, please bear in mind that inflation can reduce the buying power of your money, particularly if the interest rate is less than the rate of inflation. Your exact tax benefits will depend on your personal circumstances and may change in the future.
What happens when you take money out of an ISA?
You can take money out of your ISA any time you like without incurring a tax liability. But sometimes, the company looking after your ISA might have rules about this or might ask you to pay a fee, so it's best to check first. For example, they might have withdrawal limits or require you to give them notice at least 30 days before withdrawal.
For the 2026/2027 tax year, the combined ISA allowance is £20,000. Even if you take some out, you can't put in more than £20,000 in total, unless you have a flexible ISA. If you do, you can take out money and put it back in within the same year without reducing your ISA allowance. However, if you take money out and don't replace it within the tax year, you can't carry over any unused allowance to the next year.
Do you pay tax when you withdraw from an ISA?
No, you don’t pay tax when you withdraw from an ISA. ISAs were introduced by the government to help you save and invest, so any money you take out of an ISA is tax-efficient, whether you’re taking out a little bit or the whole lot.
Are there any ISA withdrawal charges?
Some ISAs let you take money out for free. Others, especially those where you're investing your money (stocks and shares ISAs, cash ISAs), might charge you. Always have a look so you know what to expect.
Withdrawing from different types of ISAs
Different ISAs have their own rules for taking money out. For example, some may charge you a fee for withdrawals. If you’re unsure about your ISA’s withdrawal rules, you should check with your provider.
Keep in mind some ISAs are flexible, like our Aviva Stocks & Shares ISA. With a flexible ISA, if you withdraw money but then put it back into the ISA in the same tax year, it won't count as part of your annual allowance.
Stocks and Shares ISA
You can usually access your money when you need it, but there may be delays while your investments are sold and transactions are processed, depending on the type of assets held.
You can use our ISA investment calculator for an estimate of how much a stocks and shares ISA could be worth to you.
Cash ISA
These are usually easy to take money out of, making them handy for emergencies, if you are saving into an easy access account. However, some cash ISAs have penalty rules; for example, you may be charged to take money out of a fixed-term cash ISA, so this is generally not encouraged.
If your ISA is flexible, you can put the money back within the same tax year, provided this is paid back into the same ISA.
Innovative Finance ISA
These might have special rules for taking your money out, depending on your investments. The flexible rules apply here too if your ISA offers them.
Lifetime ISA
If you take money out before age 60 for any reason other than buying your first home, a 25% government charge will apply. This may mean you get back less than you paid in. The charge does not apply if you are terminally ill.
Finding the right ISA for you
If you’re looking for an ISA, you might be interested in an Aviva Stocks & Shares ISA. It’s flexible and includes a range of investment options for both new and experienced investors.
A stocks and shares ISA is just one of a full range of investment options, take a look at our investments hub for further information. If you’re unsure about making an investment, it's always a good idea to talk to a financial advisor to get personalised advice.
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