# The Individual Savings Account Regulations 1998, Regulation 24: Tax liabilities and reliefs—account manager to act on behalf of account investor

Extent: E+W+S+N.I.

(1) An account manager may under these Regulations make claims, conduct appeals and agree on behalf of the account investor liabilities for and reliefs from tax in respect of an account.
(2) Claims shall be made to the Board in accordance with the provisions of regulations 25 and 26.
(3) Where any relief or exemption from tax previously given in respect of an account has by virtue of these Regulations become excessive, in computing the relief due on any claim there shall be deducted (so that amounts equal to that excess are set-off or repaid to the Board, as the case may be) notwithstanding that those amounts have been invested—
(a) any amount repaid in respect of income tax or paid in respect of a tax credit; and
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) any other amount due to the Board by an account manager in respect of any tax liability in respect of account investments under an account including (but without prejudice to the making of an assessment under the provisions of that Schedule) any amount falling due in respect of a liability under Chapter 9 of Part 15 of ITA 2007.
(4) Any amount deducted under paragraph (3) shall be treated as an amount of income tax deducted at source and not repayable within the meaning and for the purposes of section 95(2)(a) of the Management Act .

---
Source: https://www.legislation.gov.uk/uksi/1998/1870/regulation/24 (the official version)
Page: https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.