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If I gift my ISA's to my children/anyone, are the withdrawals tax free?

Answer
zom1955
Posted Sun, 03 Nov 2024 04:51:02 GMT by zom1955
Does the tax free status of an ISA remain when you gift them. I understand the gift will be subject to the 7 year rule.
Answer
HMRC Admin 34 Response
Posted Thu, 07 Nov 2024 13:21:26 GMT by HMRC Admin 34 Response
Hi,
You cannot gift an ISA as this is for you only. You would need to withdraw the funds in order for it to be gift.
Thank you

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