{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2026/note",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2026/note.json",
  "legislation": "uksi/2026/1130",
  "legislation_title": "The Individual Savings Account (Amendment) (No. 3) Regulations 2026",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-no-3-regulations-2026",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Individual Savings Account Regulations 1998 (“the ISA Regulations”) in relation to Lifetime ISAs.\nRegulation 5 amends the Schedule to the ISA Regulations to provide for a withdrawal charge of 20% rather than 25% where a withdrawal from a Lifetime ISA would qualify as a withdrawal for a first-time residential purchase but for the fact that the purchase price of the residential property exceeds the maximum amount specified in paragraph 6(3) of the Schedule. It also amends the Schedule to provide that a withdrawal for this purpose is not liable to the withdrawal charge if the purchase fails to complete and the withdrawal is returned to the Lifetime ISA.\nRegulations 3 to 5 also make consequential amendments to the ISA Regulations relating to the new withdrawal charge.\nA Tax Information and Impact Note will be published on the HM Government website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2026/1130/note",
    "retrieved_at": "2026-10-31T10:33:49.426115+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."
}