An isa or individual savings account differs from other type of saving account because they do not charge any tax to the interest you earn. It ensures that the government does not get any of the money you have earned. But the amount of money you can save to this account is limited. The amount varies every year at times they can be very high or very low.

This depends on the annual budget. Withdrawing the money result in you being tax for the interest earned but when you transfer the money into another account you may not be taxed.