{
  "url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2025/note",
  "json_url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2025/note.json",
  "legislation": "uksi/2025/733",
  "legislation_title": "The Individual Savings Account (Amendment) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-amendment-regulations-2025",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Individual Savings Accounts Regulations 1998 (“the principal Regulations”).\nRegulation 3 amends regulation 2 of the principal Regulations to provide the definition of “long-term asset fund”.\nRegulation 4 amends regulation 4ZA of the principal Regulations to provide that an individual may not subscribe to an account which is not a junior ISA account unless national insurance information has been provided in relation to that individual and the account manager has no reason to believe that the conditions in regulation 12(3)(f) of the principal Regulations are not met.\nRegulation 5 amends regulation 5DDB of the principal Regulations to provide that any replacement of a previous years’ subscription may only be made to the account from which the cash withdrawal was made. It also amends regulation 5DDB to provide that no withdrawal under paragraph (1) of that regulation may reduce the current year’s subscription amount to less than nil.\nRegulation 6 amends regulation 7 of the principal Regulations. It inserts a new paragraph (2D) in regulation 7 to provide that investments which immediately before 1st October 2024 were units in or shares of a recognised UCITS, or which were units in or shares of a recognised UCITS within an umbrella scheme immediately before 1st October 2024, are qualifying investments until 31st December 2026. New paragraph (2E) of regulation 7 provides that paragraph (2A) of regulation 7 ceases to have effect at the end of 31st December 2026.\nRegulation 7 amends regulation 8A of the principal Regulations to include long-term asset funds among the qualifying investments for an innovative finance component of an account.\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/2025/733/note",
    "retrieved_at": "2026-10-28T21:14:30.752561+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."
}