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Posted Tue, 03 Dec 2024 15:48:09 GMT by gato
Hi, I was living in the UK until recently, and contributing to a cash ISA. Earlier this year (June) I moved to Spain. Before moving, I read this page: https://www.gov.uk/individual-savings-accounts/if-you-move-abroad where it says "you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it. You can transfer an ISA to another provider even if you are not resident in the UK." I also messaged my ISA provider (Zopa) to confirm that would be the case, and they replied that yes, I would be able to keep the account, I just would not be able to make contributions after I move. Now that I have moved, I tried changing my contact details, and Zopa say they are unable to use an address/number not in the UK as they only serve UK customers, and in fact they now say I won't be able to keep my ISA account with them. I have since asked another provider to see if I could transfer my ISA to them, and they also informed me that only UK residents can open a new account with them. So basically: 1. Official guidance says you can keep ISA open. 2. Bank told me yes I could. 3. Now bank says "actually, you cannot" 4. Don't see other ISA providers that support this. The whole thing a bit misleading. Are there actually any ISA providers that would allow someone in my situation to transfer in with them, or do I actually need to take the money abroad with me and potentially lose on tax advantages? Plus if I move back to the UK I would need to build up a new ISA.
Posted Fri, 06 Dec 2024 16:03:21 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
If you move abroad
Thank you.
Posted Fri, 06 Dec 2024 16:25:45 GMT by gato
Unfortunately that is literally the same link I had included in the question, so I am afraid this is not helpful nor does it address my actual question.

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