RE: ISA Allowance24 Feb 2021 21:30
Taxation on withdrawals from ISAs
Withdrawing money from ISAs is, in many cases, both flexible and tax-free. Any amount withdrawn from a Cash ISA, a Stocks and Shares ISA, or a Lifetime ISA is not taxable. The withdrawal does not even need to be reported on any income tax forms. Also, there is no tax on profits made on share price increases, interest earned on bonds, or dividend income.