Q: Can money be withdrawn from an Isa?
You can usually withdraw your money at any time without losing any tax benefits accrued.
Some cash Isas may run for a fixed period of time or require notice of withdrawal and withdrawing money early could result in the loss of some interest or a bonus, according to Rachel Wylie, press and public affairs manager of the Building Societies Association (BSA).
She said: “It is important to note that once the money has been withdrawn, it cannot be re-saved within that Isa.
“With stocks and shares Isas, you may not get back all the money you put in, particularly if you are withdrawing in the early years of an investment.”
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