The Individual Savings Account (Amendment) Regulations 2018
| Jurisdiction | UK Non-devolved |
2018 No. 359
Income Tax
Capital Gains Tax
The Individual Savings Account (Amendment) Regulations 2018
Made 12th March 2018
Laid before the House of Commons 13th March 2018
Coming into force 6th April 2018
The Treasury make these Regulations in exercise of the powers in section 151 of the Taxation of Chargeable Gains Act 19921, sections 694, 695 to 696 and 701 of the Income Tax (Trading and Other Income) Act 20052and sections 1(2) and 4(3) and (6) of, and paragraph 2(2) of Schedule 1 to, the Savings (Government Contributions) Act 20173.
Citation and commencement
1. These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2018 and come into force on 6th April 2018.
Amendment of the Individual Savings Account Regulations 1998
2. The Individual Savings Account Regulations 19984are amended as follows.
3. In regulation 2G(6)5(continuing account of a deceased investor and administration-period investments)—
(a) insert at the end of sub-paragraph (b) “and”; and
(b) omit from “, and” in sub-paragraph (c) to the end of the regulation.
4. In regulation 4ZB(1) (subscriptions to a junior ISA account) for “£4,128” substitute “£4,260”.
5. In regulation 31 (returns of information by account manager) —
(a) in paragraph (1B) for “14” substitute “60”; and
(b) after paragraph (1B) insert—
“1C The Board may authorise an extension of any period of time provided for under this regulation.”.
6. In the Schedule —
(a) in paragraph 14(1) (payment to the Board of withdrawal charges) for “14” substitute “28”; and
(b) in paragraph 15 (payments and interest) insert after sub-paragraph (3)—
“4 Payments are to be made to the Board in the manner specified by it from time to time.”.
Paul Maynard
David Rutley
Two of the Lords Commissioners of Her Majesty’s Treasury
12th March 2018
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Individual Savings Account Regulations 1998 ( S.I.1998/1870). They provide for the...
To continue reading
Request your trial