2015 No. 608
Income Tax
Capital Gains Tax

The Individual Savings Account (Amendment) Regulations 2015

Made
Laid before the House of Commons
Coming into force
The Treasury, in exercise of the powers conferred by section 694 of the Income Tax (Trading and Other Income) Act 20051 and section 151 of the Taxation of Chargeable Gains Act 19922, make the following Regulations:

Citation and commencement

1.

These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2015 and come into force on 6th April 2015.

Amendment of the Individual Savings Account Regulations 1998

2.

The Individual Savings Account Regulations 19983 are amended as follows.

3.

(1)

In regulation 4ZA(1)(subscriptions to an account other than a junior ISA account) for “£15,000” substitute “£15,240”.

(2)

In regulation 4ZB(1)(subscriptions to a junior ISA account) for £4,000” substitute “£4,080”.

Mark Lancaster
David Evennett
Two of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE
(This note is not part of the Regulations)

These Regulations amend the Individual Savings Account Regulations 1998 (S.I. 1998/1450) to increase the annual subscription limits to £15,240 and, for a junior ISA, £4,080.

A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.