The ISA regulations, which provide the surviving spouse/civil partner of a deceased ISA client with an additional ISA allowance, have been in force since 6 April 2015.
New regulations have recently been laid implementing changes to the rules from 6 April 2018. In summary, the tax status of ISAs will be extended after the date of death and this will impact on the additional permitted subscription rules.
Some managers are still unclear on some of the key requirements, especially where the deceased ISA was a stocks & shares ISA and the surviving spouse/civil partner inherits the ISA assets and this changed again on 6 April 2018.
This workshop is designed to provide an overview of the key rules that managers need to be aware of if they have opted to receive these additional permitted subscriptions.