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The short answer
You can keep your ISA after leaving the UK, and it keeps its UK tax relief, but you cannot pay any new money in while you are not UK resident. GOV.UK says you must tell your provider when you stop being resident, that you can still transfer the ISA to another provider, and that you can pay in again if you return. Nigeria may tax the income if you become Nigerian resident.
Nigerians returning home after years in the UK often have a Cash ISA, a Stocks and Shares ISA or a Lifetime ISA, sometimes all three. A common belief is that the account must be closed before you leave. It does not. The UK rules are short and favourable; the questions that need more thought are the Lifetime ISA's withdrawal charge and how Nigeria treats the income once you are back.
What GOV.UK says
- No new payments once you become non-UK resident. The exception is Crown employees working overseas, and their spouses or civil partners.
- Tell your provider as soon as you stop being UK resident.
- Keep the account: you can leave the ISA open and continue to get UK tax relief on the money and investments in it.
- Transfer is allowed: you can move the ISA to another provider while non-resident.
- Coming back: if you return and become UK resident again, you can pay in again, within that year's allowance.
In practice, money you paid in while you were resident stays where it is. From the date you are no longer resident, stop all standing orders into the ISA, including any regular investment plan, and tell the provider in writing.
Before you go: decisions worth making
Use this year's allowance while you can
The ISA allowance for 2026 to 2027 is £20,000. If you have savings outside an ISA and are still UK resident, paying in before you leave shelters them from UK tax for as long as you keep the account. Once you are non-resident, that door closes until you return.
Check the provider's own rules
GOV.UK lets you keep the ISA, but each provider sets its own terms for customers living abroad. Some may limit new trades, ask for an overseas address and identity documents, or not accept a Nigerian address at all. Ask before you leave, and move the ISA to a provider that will keep you if yours will not.
Keep UK banking access
You will need a way to receive money if you withdraw. Keeping a UK current account, or having an account that holds pounds, avoids forced conversion at a poor moment.
The Lifetime ISA catch
A Lifetime ISA follows the same residence rule: you cannot pay in while non-resident, but you can keep it. The difference is the exit. Money can come out without a charge only to buy a first home of £450,000 or less through a conveyancer with a mortgage, from age 60, or if you are terminally ill with less than 12 months to live. Any other withdrawal carries a 25% charge, which takes back the bonus and some of your own money. GOV.UK's example: £800 saved plus a £200 bonus makes £1,000, and a full withdrawal returns £750.
If you are returning to Nigeria permanently and will not buy a first home in the UK, the realistic choices are to leave the Lifetime ISA invested until 60 or to accept the 25% charge. Our guide to the Lifetime ISA on a visa works through the numbers.
Nigerian tax once you are back
The ISA is a UK wrapper: it does not stop another country taxing you. Under the Nigeria Tax Act 2025, as summarised by PwC, you are Nigerian resident if any of several conditions applies, including a permanent home available in Nigeria, a habitual abode there, 183 days or more in Nigeria in a 12-month period, or substantial economic or immediate family ties, and residents are taxed on income wherever it arises. A returnee will usually meet at least one test.
That means interest, dividends or gains inside a UK ISA could be reportable in Nigeria even though the UK does not tax them. The 1987 UK-Nigeria double taxation agreement sets which country may tax what and gives credit for tax paid. How Nigeria treats foreign investment income in detail is for a Nigerian tax adviser; read Nigerian tax residence after moving for the residence rules.
Steps before you leave
- List every ISA, its provider and its value.
- Decide whether to top up this year's allowance while still resident.
- Ask each provider in writing about non-resident customers.
- Stop regular payments from the date you will be non-resident.
- Tell each provider your new status and address.
- File form P85 if you may be owed a UK tax refund; see leaving the UK with form P85.
Where Pryme fits
Returnees often need to move money in stages: some stays in pounds, some comes home as naira. A Pryme account holds both, and Swap shows the rate and fee before you approve a conversion, so you choose when to move ISA withdrawals into naira. For naira held in Nigeria, Savings Boxes show their rates in the app. For comparison with naira options, see how Nigerian money market funds work.
Questions people ask
Can I keep my ISA if I move back to Nigeria?
Yes. GOV.UK says you can keep the ISA open and keep its UK tax relief, but you cannot pay in while you are not UK resident.
Do I have to close my ISA when I leave the UK?
No. You must tell your provider you are no longer resident, but you do not have to close the account or withdraw.
What happens to my Lifetime ISA if I emigrate?
You cannot pay in, but you can keep it. Withdrawals before 60 that are not for a qualifying first home or terminal illness carry a 25% charge.
Is my UK ISA taxed in Nigeria?
It can be. A Nigerian resident is taxed on income wherever it arises under the Nigeria Tax Act 2025 tests, and the UK ISA wrapper does not change that. The UK-Nigeria tax treaty gives credit for tax paid.
Sources
- GOV.UK: ISAs, if you move abroad · accessed Oct 2026
- GOV.UK: Individual Savings Accounts (ISAs) · accessed Oct 2026
- GOV.UK: Withdrawing money from your Lifetime ISA · accessed Oct 2026
- PwC Worldwide Tax Summaries: Nigeria, individual residence · accessed Oct 2026
- GOV.UK: 1987 UK-Nigeria double taxation agreement · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.