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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Individual Savings Account (Amendment) Regulations 2013 No. 267 URL: http://www.bailii.org/uk/legis/num_reg/2013/uksi_2013267_en_1.html |
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Statutory Instruments
Income Tax
Capital Gains Tax
Made
12th February 2013
Laid before the House of Commons
13th February 2013
Coming into force
6th April 2013
1. These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2013 and come into force on 6 April 2013.
2.-(1) The Individual Savings Account Regulations 1998(3) are amended as follows.
(2) In regulation 4ZA of those Regulations (subscriptions to an account other than a junior ISA account)-
(a)in paragraph (1)(a), for "£5,640" substitute "£5,760"; and
(b)in paragraph (1)(b), for "£11,280" substitute "£11,520".
(3) In regulation 4ZB(1) of those Regulations (subscriptions to a junior ISA account) for "£3,600" substitute "£3,720".
Desmond Swayne
Robert Goodwill
Two of the Lords Commissioners of Her Majesty's Treasury
12th February 2013
(This note is not part of the Regulations)
These Regulations, which come into force on 6 April 2013, amend the Individual Savings Account Regulations 1998(4) ("the ISA Regulations") by increasing the overall annual subscription limits for ISA accounts, including junior ISA accounts.
Regulation 2(2)(a) increases the overall annual subscription limit in regulation 4ZA(1)(a) of the ISA Regulations from £5,640 to £5,760 for ISA accounts held by qualifying individuals aged 16 or over but less than 18.
Regulation 2(2)(b) increases the overall annual subscription limit in regulation 4ZA(1)(b) of the ISA Regulations from £11,280 to £11,520 for ISA accounts held by all other qualifying individuals.
Regulation 2(3) increases the overall annual subscription limit in regulation 4ZB(1) of the ISA Regulations from £3,600 to £3,720 for a junior ISA account.
A Tax Information and Impact Notice has not been prepared for this instrument as it gives effect to previously announced policy and relates to routine changes to allowances to a predetermined formulae.
2005 c.5; section 694 was amended by the Finance Act 2011 (c.11), section 40.
1992 c.12; section 151 was amended by the Finance Act 1993 (c.34), section 85; the Finance Act 1995 (c.4), section 64(2); the Finance Act 1998 (c.36), section 75(6) and Schedule 27, Part 3(15); the Income Tax (Trading and Other Income) Act 2005 (c.5), Schedule 1(2), paragraph 436; and the Finance Act 2011 (c.11), section 40.
S.I. 1998/1870. Regulation 4ZA was inserted by S.I. 2011/1780 and amended by S.I. 2012/705. Regulation 4ZB was inserted by S.I. 2011/1780.
