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At a glance:
If a spouse or civil partner dies, the additional permitted subscription (APS) is a way of inheriting their ISA allowance.
This extra ISA allowance increases how much you can pay into an ISA.
Extra ISA allowance example
Someone who is married or in a civil partnership passes away. They have £8000 saved in a cash ISA.
Their partner can apply to use this £8000 as an extra ISA allowance.
This means they could save an extra £8000, on top of their annual ISA allowance for the current tax year.
Extra ISA allowance rules
The extra ISA allowance is the higher of:
The value of their ISAs when they died.
Or:
The value of their ISAs when they were closed.
The value of the ISAs when the administration of their estate is complete.
Who’s eligible for the extra ISA allowance?
You don’t need to be a UK resident to apply for the allowance. If you’ve moved abroad, but your spouse or civil partner held an ISA in the UK when they died, you will still be eligible.
You need to be a UK resident to open an ISA.
Transferring an extra ISA allowance to us
If your spouse or civil partner had an ISA with another ISA provider, you can transfer your extra ISA allowance to us. You can transfer it to an existing YBS ISA or open a new one.
Can I transfer it to another ISA provider?
Yes, as long as you have not used the extra ISA allowance with us. Please contact the other ISA provider first, to check if they can accept the extra allowance.
How long do I have to use my extra ISA allowance?
You have three years from the date your partner passed away or, if later, 180 days after administration of their estate is completed.
How to apply
You can apply for APS on the phone or in branch. Before you apply, you'll need to register the death and the deceased's ISA must be closed.
The content on this page is for reference. It is not financial advice.
For help with money issues, try MoneyHelper.
For help with money issues, try MoneyHelper.
