{
  "url": "https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-4A",
  "json_url": "https://openlegislation.uk/individual-savings-account-regulations-1998/regulation-4A.json",
  "legislation": "uksi/1998/1870",
  "legislation_title": "The Individual Savings Account Regulations 1998",
  "legislation_url": "https://openlegislation.uk/individual-savings-account-regulations-1998",
  "path": "regulation/4A",
  "kind": "regulation",
  "number": "4A",
  "heading": "Repair of certain incompatible account and excess subscriptions - accounts other than junior ISA accounts",
  "text": "(1) An invalid account is eligible for repair if, in relation to the year in which the subscriptions to the account were made (“the relevant year”) it meets the condition in paragraph (1A).\n(1A) The condition in this paragraph is that the account is invalid only because the overall subscription limit in regulation 4ZA(1) has been exceeded.\n(2) In this regulation—\n(a) where an account investor subscribes to a particular account in more than one year, each year’s subscriptions shall be treated as a separate account for the purposes of this regulation...;\n(b) “date of discovery” means the date on which an officer of the Board gives a notice (“notice of discovery”) to the account manager or account investor that the account is invalid, and (if appropriate) directions under paragraph (5) below;\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(d) “valid account” means an account which (apart from under this regulation) is exempt from tax under regulation 22(I);\n(e) “invalid account” means a scheme of investment which is not exempt from tax under these Regulations but which (if so exempt) would be an account, within the meaning in regulation 4(1A)(a) and, in relation to an invalid account, references to an account and component have corresponding meanings; and\n(f) (for the avoidance of doubt) “repair” of an account is without prejudice to loss of, and accounting to the Board for, any relief from tax given for the period up to the date of discovery.\n(3) An invalid account which is eligible for repair shall be treated as—\n(a) exempt from tax under this regulation (as if under regulation 22), and\n(b) complying with the overall subscription limit in regulation 4ZA(1),\nas from the date of discovery, to the extent of the relevant proportion mentioned in paragraph (4)(b).\n(4) (a) Calculate the extent to which the subscriptions made (and counting towards the subscription limit) during the relevant year—\n(i) to that account, any other account which is eligible for repair, and any valid account (but ignoring subscriptions to any closed account...) do not exceed,\n(ii) the subscriptions limit in regulation 4ZA(1)... , and\n(b) an officer of the Board shall apportion that result between the accounts mentioned in sub-paragraph (a)(i), and the amount apportioned to the account mentioned in paragraph (3) is the relevant proportion.\n(5) The account manager must comply within 30 days with any directions in the notice of discovery which—\n(a) make the apportionment under paragraph (4)(b) and identify the account and component from which excess subscriptions or allocations (if any) are to be removed;\n(b) direct the removal of subscriptions and proceeds representing them from an account; or\n(c) direct the removal of subscriptions and proceeds representing them from a component.\n(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(7) This regulation is subject to regulation 4AA.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 4A inserted (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by The Individual Savings Account (Amendment No. 3) Regulations 2002 (S.I. 2002/3158), regs. 1(2), 3"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 4A(1)(1A) substituted for reg. 4A(1) (6.4.2024) by The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 9(a) (with reg. 2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 4A(2)(a) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 9(b) (with reg. 2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Reg. 4A(2)(c) omitted (6.4.2008) by virtue of The Individual Savings Account (Amendment) Regulations 2007 (S.I. 2007/2119), regs. 1, 7(c)(i)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. 4A(2)(e) substituted (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 9(c)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in reg. 4A(2)(e) substituted (6.4.2008) by The Individual Savings Account (Amendment) Regulations 2007 (S.I. 2007/2119), regs. 1, 7(c)(ii)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in reg. 4A(3)(b) substituted (6.4.2024) by The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 9(c) (with reg. 2)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Reg. 4A(4)(a) substituted (6.4.2008) by The Individual Savings Account (Amendment) Regulations 2007 (S.I. 2007/2119), regs. 1, 7(e)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Word in reg. 4A(4)(a) substituted (1.7.2014) by The Individual Savings Account (Amendment No. 2) Regulations 2014 (S.I. 2014/1450), regs. 1, 8(c)(i)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in reg. 4A(4)(a)(i) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 9(d) (with reg. 2)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Word in reg. 4A(4)(a)(ii) substituted (1.7.2014) by The Individual Savings Account (Amendment No. 2) Regulations 2014 (S.I. 2014/1450), regs. 1, 8(c)(ii)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in reg. 4A(4)(a)(ii) substituted (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 9(e)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in reg. 4A(4)(a)(ii) omitted (1.7.2014) by virtue of The Individual Savings Account (Amendment No. 2) Regulations 2014 (S.I. 2014/1450), regs. 1, 8(c)(ii)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Reg. 4A(6) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 9(e) (with reg. 2)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Reg. 4A(7) inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 8"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Reg. 4A heading substituted (1.11.2011) by The Individual Savings Account (Amendment No. 2) Regulations 2011 (S.I. 2011/1780), regs. 1, 9(a)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words inserted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "word substituted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "word substituted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2026/1018",
      "affecting_title": "The Individual Savings Account (Amendment) (No. 2) Regulations 2026"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/1870/regulation/4A",
    "retrieved_at": "2026-10-29T11:24:14.041613+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."
}