# The Individual Savings Account (Amendment) Regulations 2017

S.I. 2017/186 · made 21 February 2017

These Regulations amend the Individual Savings Account Regulations 1998 (S.I.1998/1870) (“the ISA Regulations”). They provide for the annual limit on subscriptions to an ISA account, other than a junior ISA account, to be increased from £15,240 to £20,000 and to a junior ISA account to be increased from £4,080 to £4,128 (regulations 5 and 6). They make minor changes as a result of changes to other legislation referred to in the ISA Regulations. Regulation 8 corrects a numbering error.

Made under: Taxation of Chargeable Gains Act 1992 (Section 151); Income Tax (Trading and Other Income) Act 2005 (Section 694, Section 695, Section 696, Section 697, Section 698, Section 699, Section 701)

PDFs: Printed copy https://openlegislation.uk/individual-savings-account-amendment-regulations-2017/pdf/uksi_20170186_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/individual-savings-account-amendment-regulations-2017/pdf/uksiem_20170186_en.pdf

## Introductory text

Income Tax
Capital Gains Tax
Made 21st February 2017
Laid before the House of Commons 22nd February 2017
Coming into force 6th April 2017
The Treasury make these Regulations in exercise of the powers in section 151 of the Taxation of Chargeable Gains Act 1992 and sections 694 and 695 to 699 and 701 of the Income Tax (Trading and Other Income) Act 2005.

## 1 Citation and commencement

These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2017 and come into force on 6th April 2017.

## 2 Amendment of the Individual Savings Account Regulations 1998

The Individual Savings Account Regulations 1998 are amended as follows.

## 3 Amendment of the Individual Savings Account Regulations 1998

In regulation 2(1)(a) (interpretation) for the definition of “investment trust”, substitute—
““investment trust” means an investment trust within the meaning of section 1158 of the Corporation Tax Act 2010;”.

## 4 Amendment of the Individual Savings Account Regulations 1998

In regulation 2F(2) (special provision in respect of Looked After Children) after sub-paragraph (a) insert —
“(ab) looked after by a local authority within the meaning of section 74 of the Social Services and Well-being (Wales) Act 2014;”.

## 5 Amendment of the Individual Savings Account Regulations 1998

In regulation 4ZA(1) (subscriptions to an account other than a junior ISA account) for “£15,240” substitute “£20,000”.

## 6 Amendment of the Individual Savings Account Regulations 1998

In regulation 4ZB(1) (subscriptions to a junior ISA account) for “£4,080” substitute “£4,128”.

## 7 Amendment of the Individual Savings Account Regulations 1998

In regulation 14(2)(b)(i) (account manager-qualifications and Board’s approval) for “51” substitute “51ZA, 51ZC, 51ZE ”.

## 8 Amendment of the Individual Savings Account (Amendment No. 2) Regulations 2016

In regulation 14(d) of the Individual Savings Account (Amendment No. 2) Regulations 2016 the sub-paragraph inserted into regulation 12(3) of the Individual Savings Account Regulations 1998 is to be renumbered “(fa)”.

## Signature

Robert Syms
Guto Bebb
Two of the Lords Commissioners of Her Majesty’s Treasury
21st February 2017

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend the Individual Savings Account Regulations 1998 (S.I.1998/1870) (“the ISA Regulations”). They provide for the annual limit on subscriptions to an ISA account, other than a junior ISA account, to be increased from £15,240 to £20,000 and to a junior ISA account to be increased from £4,080 to £4,128 (regulations 5 and 6). They make minor changes as a result of changes to other legislation referred to in the ISA Regulations. Regulation 8 corrects a numbering error.
A Tax Information and Impact Note covering this Instrument will be published on the HM Government website at: https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

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Source: https://www.legislation.gov.uk/uksi/2017/186 (the official version)
Page: https://openlegislation.uk/individual-savings-account-amendment-regulations-2017
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.