Финансовые эксперты предупреждают: самостоятельный вывод средств из ИСА может стоить вам налогового преимущества

Anyone moving money between ISAs warned over simple mistake that could affect tax-free savings If you want to move your ISA money, the safest approach is generally to start the process with the new ISA provider Savers looking for a better return on their money are being warned about a surprisingly easy mistake to make when switching ISAs. ‌ With savings rates changing regularly, moving your money to a better-paying account can make perfect sense. ‌ But if the money is already sitting inside an ISA, simply withdrawing it yourself and paying it into your new account may not be the clever shortcut it appears to be. ‌ That's because HMRC distinguishes between transferring an ISA and taking money out of an ISA before subsequently paying money into another one. And with an annual ISA allowance of £20,000 for the 2026/27 tax year, getting that distinction wrong could potentially cause problems with your allowance. ‌ The ISA switching mistake to avoid ISAs allow you to save or invest without paying UK tax on income or capital gains generated within the ISA. You can currently save up to £20,000 across ISAs during the tax year. However, you might have considerably more than £20,000 sitting in ISAs because money saved during previous tax years remains within its tax-free wrapper. Imagine, for example, that you have built up £35,000 in a Cash ISA over several years. You find another Cash ISA offering a better rate and want to move the whole £35,000. ‌ The important thing is how you move it. If the new account accepts ISA transfers, you can ask the new provider to transfer your existing ISA. The historic ISA savings being transferred don't suddenly become £35,000 of new ISA subscriptions for the current tax year. But withdrawing £35,000 yourself is different. Once you've taken the money out of its ISA wrapper, you shouldn't simply assume that you can deposit the whole £35,000 into another ISA as a new contribution. ‌ That could be particularly important if you've already paid money into ISAs during this tax year. Don't close your old ISA yourself If your aim is to switch provider, the safest approach is generally to start the process with the new ISA provider. Check that the new account accepts ISA transfers and ask the provider to arrange the move. Don't withdraw the money first unless you understand exactly how the rules of your particular ISA work. ‌ It is also worth checking whether there are penalties for leaving your existing account. A fixed-rate Cash ISA, for example, may impose an interest penalty for accessing the money before the end of the fixed term. There are also different Cash ISA rules around access and withdrawals depending on the type of account you have, so it pays to check the small print before moving anything. There's an important exception This is where ISA rules become slightly more complicated. Some ISAs are flexible. A flexible ISA can allow you to withdraw money and replace it during the same tax year without the replacement counting again towards your annual allowance, subject to the relevant rules. ‌ But flexibility isn't automatically included with every ISA. So seeing the words "easy access" doesn't necessarily mean you have a flexible ISA for tax purposes. Before withdrawing money that you intend to put back, check the terms of your account or speak to your provider. What does an ISA expert say? Investment and ISA expert Ruby Layram says the problem is that withdrawing the money yourself feels like the obvious thing to do. ‌ She said: “If you find a better ISA rate, it can be tempting to simply withdraw your savings and pay the money into the new account yourself. But that isn't necessarily the same as making an ISA transfer, and that distinction really matters. “Money built up inside an ISA over previous tax years can normally be transferred without using your current year's ISA allowance, provided you follow the proper ISA transfer process. “There are exceptions, particularly with flexible ISAs, but not every ISA is flexible. You should never assume you can take money out and put it back without checking first. ‌ “If you're moving ISA savings because you've found a better deal, my advice is simple: don't touch the money until you've checked the transfer rules. Ask the new provider to arrange the ISA transfer and check whether there are penalties for leaving your existing account.” What if you have a Stocks and Shares ISA? The same principle of using the proper transfer procedure is important for investment ISAs too. If you're switching investment platforms, don't automatically sell everything, withdraw the cash into your bank account and start again elsewhere. Depending on the providers and investments involved, it may be possible to transfer the ISA while maintaining its tax wrapper. ‌ It is also worth remembering that Stocks and Shares ISAs work differently from Cash ISAs. Your money is invested rather than simply held as cash, which means its value can fall as well as rise. Charges matter too. If you are moving an investment ISA, check platform fees, dealing charges and any costs involved in leaving or transferring. Remember that investments can fall as well as rise and you could get back less than you invest. ‌ ISA rules are changing There is another reason to start paying closer attention to where your ISA money is held. From April 2027, the Government plans to limit Cash ISA subscriptions to £12,000 a year for people under 65, while retaining the £20,000 overall annual ISA allowance. Other changes are also planned as part of the ISA reforms. That doesn't mean savers need to make rushed decisions now. But it does make understanding whether you're contributing, withdrawing or transferring money increasingly important. First-time buyers are facing a separate ISA shake-up. The Government is developing a replacement for the Lifetime ISA for new savers, meaning anyone currently building a house deposit may need to weigh up whether to open a Lifetime ISA now or wait. ‌ Five things to check before moving an ISA Before doing anything with your ISA savings: Check whether the new ISA accepts transfers. Ask the new provider to initiate the ISA transfer rather than withdrawing the money yourself. Find out whether your existing ISA is flexible. Check for exit charges or lost interest before switching. Keep track of how much new money you have subscribed to ISAs during the current tax year. Shopping around for a better return on your savings is sensible. But with an ISA, how you move the money can be every bit as important as where you move it. Article continues below The extra few minutes spent checking the transfer rules could save you a considerable headache later. This article is for general information only and does not constitute financial advice. Tax treatment depends on individual circumstances and ISA and tax rules can change.