The Individual Savings Account (Amendment No 3) Regulations, SI 2017/1089, allow ISAs to retain their tax advantages after the death of the account holder, with effect from 6 April 2018.
The Individual Savings Account (Amendment No 3) Regulations, SI 2017/1089, allow ISAs to retain their tax advantages after the death of the account holder, with effect from 6 April 2018. Beneficiaries of the estate will not be subject to income tax or CGT on amounts held in the account during the administration period or, if earlier, until three years after the account holder’s death.
HMRC consulted on a draft version of the regulations between February and April 2017. Primary legislation for this change is in Finance Act 2016.
The Individual Savings Account (Amendment No 3) Regulations, SI 2017/1089, allow ISAs to retain their tax advantages after the death of the account holder, with effect from 6 April 2018.
The Individual Savings Account (Amendment No 3) Regulations, SI 2017/1089, allow ISAs to retain their tax advantages after the death of the account holder, with effect from 6 April 2018. Beneficiaries of the estate will not be subject to income tax or CGT on amounts held in the account during the administration period or, if earlier, until three years after the account holder’s death.
HMRC consulted on a draft version of the regulations between February and April 2017. Primary legislation for this change is in Finance Act 2016.
