{
  "url": "https://openlegislation.uk/draft-individual-savings-account-amendment-no-2-regulations-2017/regulation-21",
  "json_url": "https://openlegislation.uk/draft-individual-savings-account-amendment-no-2-regulations-2017/regulation-21.json",
  "legislation": "ukdsi/2017/9780111154618",
  "legislation_title": "The Individual Savings Account (Amendment No. 2) Regulations 2017",
  "legislation_url": "https://openlegislation.uk/draft-individual-savings-account-amendment-no-2-regulations-2017",
  "path": "regulation/21",
  "kind": "regulation",
  "number": "21",
  "heading": "New regulation 10A",
  "text": "After regulation 10 insert—\n“Lifetime ISA qualifying individuals who may invest under a Lifetime ISA\n10A. (1) This regulation specifies the description of individual (“Lifetime ISA qualifying individual”) who may invest under a Lifetime ISA.\n(2) A Lifetime ISA qualifying individual to whom paragraph (1) refers is an individual who—\n(a) is 18 years of age or over;\n(b) in relation to a current year payment is under 50 years of age;\n(c) in relation to a current year payment or a payment under paragraph (4)(c), has not made, and will not make, any such payment to any other Lifetime ISA in the year in which the payment is made;\n(d) has not exceeded the overall subscription limit in regulation 4ZA(1) in that year;\n(e) has not exceeded the overall Lifetime ISA payment limit in regulation 4ZA(1A) in that year; and\n(f) in relation to a current year payment or a payment under paragraph (4)(c), is resident in the United Kingdom or, if not so resident—\n(i) is a person who has general earnings from overseas Crown employment subject to United Kingdom tax within the meaning given by section 28 of ITEPA 2003, or\n(ii) is married to or in a civil partnership with a person mentioned in paragraph (i).\n(3) Subject to paragraph (4), the following are current year payments—\n(a) a subscription of money;\n(b) a subscription of shares to which regulation 7(2)(h) applies;\n(c) a subscription to which regulation 5D applies;\n(d) an additional permitted subscription in accordance with regulation 5DDA;\n(e) a replacement subscription in accordance with regulation 5DDB;\n(f) an additional permitted subscription on closure of a Help to Buy ISA in accordance with regulation 5DDC; and\n(g) a transfer of qualifying investments for a Lifetime ISA component from an account which is not a Lifetime ISA.\n(4) The following are not current year payments—\n(a) a defaulted Lifetime ISA subscription under regulation 5D(2)(a)(ia);\n(b) a returned withdrawal under regulation 5D(2)(a)(ib); and\n(c) the first or only transfer from a Help to Buy ISA (as described in regulation 5DDC(6)) to a Lifetime ISA in the year 2017-18 in an amount not exceeding the balance on the Help to Buy ISA as at 5th April 2017 plus accrued interest.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "The subscription limit in regulation 4ZA(1) was most recently substituted by S.I. 2015/608 and is amended by these regulations."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Regulation 4ZA(1A) is inserted by these Regulations."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Regulation 2 of S.I. 1998/1870 defines ITEPA 2003 as meaning the Income Tax (Earnings and Pensions) Act 2003 (2003 c. 1); section 28(5) and (6) was amended by paragraph 102(2) and (3)(a) of Schedule 4 to the Commissioners for Revenue and Customs Act 2005 (c. 11)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Regulation 7(2)(h) was amended by paragraph 86 of Schedule 8 to the Finance Act 2014 (c. 26) and S.I. 2000/2079, 2008/704 and 2011/1780."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Regulation 5D was inserted by S.I. 2012/1871 and amended by S.I. 2015/869, 2015/941 and 2016/16."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "Regulation 5DDA was inserted by S.I. 2015/869 and amended by S.I. 2016/16 and 2016/364."
    },
    {
      "type": "footnote",
      "label": "f7",
      "text": "Regulation 5DDB was inserted by S.I. 2016/16 and amended by S.I. 2016/364."
    },
    {
      "type": "footnote",
      "label": "f8",
      "text": "Regulation 5DDC was inserted by S.I. 2016/16."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2017/9780111154618/regulation/21",
    "retrieved_at": "2026-10-30T15:06:48.715701+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}