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Regulation 10 Qualifying individuals who may invest under an account that is not a junior ISA account nor a Lifetime ISAF17F18

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

F1(1)

This regulation specifies the description of individual (“qualifying individual”) who may invest under an account that is not a junior ISA account F2nor a Lifetime ISA.

(2)

A qualifying individual to whom paragraph (1) refers is an individual—

F3(a)

F4who is 18 years of age or over;

F5(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(cza)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ca)

who has not exceeded the F8... overall subscription limit in F9regulation 4ZA(1)... in that year;

(d)
(i)

who is resident F10... in the United Kingdom, or

F11(ii)

who, though not resident in the United Kingdom, has general earnings from overseas Crown employment subject to United Kingdom tax within the meaning given by section 28 of ITEPA 2003, F12or

(iii)

who, though not resident in the United Kingdom, is married to F13or in a civil partnership with a person mentioned in paragraph (ii)F14; or

F15(iv)

who, where the terms and conditions of an account allow for it, though not resident in the United Kingdom, makes a subscription to the account in accordance with regulation 5D.

F16(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Reg. 10(1) substituted (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 17(b)

F2

Words in reg. 10(1) inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 20(b)

F3

Reg. 10(2)(a)-(ca) substituted for reg. 10(2)(a)-(c) (6.4.2008) by The Individual Savings Account (Amendment) Regulations 2007 (S.I. 2007/2119), regs. 1, 14

F4

Reg. 10(2)(a) substituted (6.4.2024) by The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 17(a)(i) (with reg. 2)

F5

Reg. 10(2)(b) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 17(a)(ii) (with reg. 2)

F6

Reg. 10(2)(c) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 17(a)(ii) (with reg. 2)

F7

Reg. 10(2)(cza) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 17(a)(ii) (with reg. 2)

F8

Words in reg. 10(2)(ca) omitted (1.7.2014) by virtue of The Individual Savings Account (Amendment No. 2) Regulations 2014 (S.I. 2014/1450), regs. 1, 17

F9

Words in reg. 10(2)(ca) substituted (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 17(c)(i)

F10

Words in reg. 10(2)(d)(i) omitted (6.4.2013) by virtue of The Income Tax (Removal of Ordinary Residence) Regulations 2013 (S.I. 2013/605), regs. 1, 4(3) (with reg. 2(a))

F11

Reg. 10(2)(d)(ii) substituted (6.4.2008) by The Individual Savings Account (Amendment) Regulations 2008 (S.I. 2008/704), regs. 1, 9

F12

Reg. 10(2)(d)(iii) and preceding word added (6.4.2001) by The Individual Savings Account (Amendment) Regulations 2001 (S.I. 2001/908), regs. 1, 5(b)

F13

Words in reg. 10(2)(d)(iii) inserted (5.12.2005) by The Tax and Civil Partnership (No. 2) Regulations 2005 (S.I. 2005/3230), regs. 1, 10(3)

F14

Word in reg. 10(2)(d)(iii) substituted (1.2.2016) by The Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), regs. 1, 12(c)

F15

Reg. 10(2)(d)(iv) inserted (1.2.2016) by The Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), regs. 1, 12(d)

F16

Reg. 10(3) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 17(b) (with reg. 2)

F17

Words in reg. 10 heading added (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 17(a)

F18

Words in reg. 10 heading inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 20(a)