- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Individual Savings Account (Amendment No. 2) Regulations 2016
You are here:
- Offerynnau Statudol y Deyrnas Unedig
- 2016 No. 364
- Explanatory Note
Pa Fersiwn
Dewisiadau Agor
Rhagor o Adnoddau
Status:
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These regulations amend the Individual Savings Account Regulations 1998 (S.I.1998/1870) (“the ISA regulations”) and the Individual Savings Account (Amendment Regulations) 2016 (S.I. 2016/16).
These regulations provide for a new type of Individual Savings Account (“ISA”), the innovative finance account, which enables interest and gains received by an account investor in respect of an article 36H agreement (defined in regulation 3) to be free of tax.
They also make provision for flexible accounts, provided for under the Individual Savings Account (Amendment) Regulations 2016 (S.I. 2016/16), to allow replacement subscriptions using certain types of shares.
Regulation 3 amends regulation 2 of the ISA regulations relating to interpretation.
Regulation 5 amends regulation 4 of the ISA regulations to make provision relating to general conditions for ISA accounts and subscriptions to those accounts for an innovative finance account.
Regulation 9 amends regulation 5DDB of the ISA regulations relating to flexible accounts so that the terms and conditions of those accounts can allow investors to use certain types of employee share scheme shares (rather than cash) to replace sums they have withdrawn from their account earlier in a tax year, without those shares counting towards the annual overall subscription limit for the year.
Regulation 12 inserts new regulation 8A into the ISA regulations to make provision relating to qualifying investments which may be purchased, made or held under an innovative finance account. These include payments received by an account investor in respect of an article 36H agreement.
Regulation 13 amends regulation 10 of the ISA regulations to make provision for qualifying individuals who may invest under an innovative finance account and provides for cases in which it is possible for a holder of an innovative finance account (in the same way as another ISA account holder) to subscribe to more than one cash account, stocks and shares account or innovative finance account in a tax year.
Regulation 14 amends regulation 12 of the ISA regulations to make provision for an application to open an innovative finance account and also provides for cases in which it is possible for a holder of an innovative finance account (in the same way as another ISA account holder) to subscribe to more than one ISA account in a tax year.
Regulation 15 amends regulation 14 of the ISA regulations to make provision for the qualifications of an account manager to include a permission (other than an interim permission), under Part 4A of the Financial Services and Markets Act 2000 (c. 8), to carry out activities under article 36H or article 39G of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I.2001/544).
Regulation 16 amends regulation 21 of the ISA regulations to make provision relating to the transfer of an innovative finance account.
Regulation 17 amends regulation 31 of the ISA regulations to make provision relating to the returns of information to HM Revenue & Customs for an innovative finance account.
Regulations 18 to 21 make minor amendments to S.I.2016/16.
The remaining regulations make further minor and consequential amendments to the ISA regulations.
Tax Information and Impact Notes covering this instrument has been published on the HM Government website at—
Options/Help
Print Options
PrintThe Whole Instrument
PrintThis Explanatory Note only
Mae deddfwriaeth ar gael mewn fersiynau gwahanol:
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Dewisiadau Agor
Dewisiadau gwahanol i agor deddfwriaeth er mwyn gweld rhagor o gynnwys ar y sgrin ar yr un pryd
Memorandwm Esboniadol
Mae Memoranda Esboniadol yn nodi datganiad byr o ddiben Offeryn Statudol ac yn rhoi gwybodaeth am ei amcan polisi a goblygiadau polisi. Maent yn ceisio gwneud yr Offeryn Statudol yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol, ac maent yn cyd-fynd ag unrhyw Offeryn Statudol neu Offeryn Statudol Drafft a gyflwynwyd ger bron y Senedd o Fehefin 2004 ymlaen.
Rhagor o Adnoddau
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
- y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
- rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
- manylion rhoi grym a newid cyffredinol
- pob fformat o’r holl ddogfennau cysylltiedig
- slipiau cywiro
- dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Rhagor o Adnoddau
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
- y PDF print gwreiddiol y fel gwnaed fersiwn a ddefnyddiwyd am y copi print
- slipiau cywiro
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys
- rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
- manylion rhoi grym a newid cyffredinol
- pob fformat o’r holl ddogfennau cysylltiedig
- dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Mae’r holl gynnwys ar gael dan Drwydded Llywodraeth Agored v3.0 ac eithrio ble nodir yn wahanol. Yn ychwanegol mae’r safle hwn â chynnwys sy’n deillio o EUR-Lex, a ailddefnyddiwyd dan delerau Penderfyniad y Comisiwn 2011/833/EU ar ailddefnyddio dogfennau o sefydliadau’r UE. Am ragor o wybodaeth gweler ddatganiad cyhoeddus Swyddfa Gyhoeddiadau’r UE ar ailddefnyddio.