Interactive Investor

You can withdraw from most ISAs whenever you want to without affecting the tax benefits. The exception is Lifetime ISAs. You can only withdraw money from a Lifetime ISA to buy your first home or after you turn 60. 

It is also free to withdraw money from most ISAs but some providers may charge a fee for cash withdrawals.

How does withdrawing money from an ISA affect your ISA allowance?

When you withdraw money from a flexible ISA, you can replace that money in your ISA without using your annual allowance. If you have an ISA which is not flexible, you cannot replace money you have withdrawn without using your annual allowance.

Do you pay tax when you withdraw money from an ISA? 

You do not pay tax when you withdraw money from an ISA. 

Any profits you make in an ISA account are tax-free. The only exception is the Lifetime ISA withdrawal penalty.  

Withdrawing money from an ii Stocks and Shares ISA

There is usually no charge to withdraw money from your ii Stocks and Shares ISA

You can withdraw money into an account held in your name. To withdraw money, log into your account and select cash & transfers > withdraw/transfer cash. Then follow the instructions to make a bank transfer. 

If you request the payment before 2pm, the cash should reach your account by the end of the next working day. If request after 2pm, you will receive your payment after two working days.

If you need your cash sooner, you can request an urgent withdrawal. Urgent withdrawals cost £15. 

Please note that the ii Stocks and Shares ISA is not a flexible ISA. This means you will use your annual allowance if you replace money you have withdrawn.

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It takes less than 10 minutes to get started. You will just need your address, debit card details and national insurance number to hand.

Already an ii customer?

Simply log in to add a new Stocks and Shares ISA.