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The Individual Savings Account (Amendment) Regulations 2015

S.I. 2015/608 · Made 9 March 2015

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Income Tax

Capital Gains Tax

Made 9th March 2015

Laid before the House of Commons 10th March 2015

Coming into force 6th April 2015

The Treasury, in exercise of the powers conferred by section 694 of the Income Tax (Trading and Other Income) Act 2005f1 and section 151 of the Taxation of Chargeable Gains Act 1992f2, make the following Regulations:

Annotations to the whole text

Footnotes

f1

2005 c. 5; section 694 was amended by; the Finance Act 2011 (c. 11), section 40.

f2

1992 c. 12; section 151 was amended by the Finance Act 1993 (c. 34), section 85; the Finance Act 1995 (c. 4), section 64(2); the Income Tax (Taxation of Other Income) Act 2005, Schedule 1, paragraph 436; the Finance Act 2011, section 40(7).

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Individual Savings Account Regulations 1998
  3. 3Amendment of the Individual Savings Account Regulations 1998
  4. Signature
  5. Explanatory note

1Citation and commencement

These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2015 and come into force on 6th April 2015.

2Amendment of the Individual Savings Account Regulations 1998

The Individual Savings Account Regulations 1998f1 are amended as follows.

3Amendment of the Individual Savings Account Regulations 1998

(1)

In regulation 4ZA(1)(subscriptions to an account other than a junior ISA account) for “£15,000” substitute “£15,240”.

(2)

In regulation 4ZB(1)(subscriptions to a junior ISA account) for £4,000” substitute “£4,080”.

Signature

Mark Lancaster

David Evennett

Two of the Lords Commissioners of Her Majesty’s Treasury

9th March 2015

Explanatory note

(This note is not part of the Regulations)

These Regulations amend the Individual Savings Account Regulations 1998 (S.I. 1998/1450) to increase the annual subscription limits to £15,240 and, for a junior ISA, £4,080.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.