If your husband, wife or civil partner has passed away and they had an ISA, you’ll inherit their ISA allowance.
This is sometimes known as an additional permitted subscription (or APS), but we call it an inherited ISA allowance.
- The inherited ISA allowance doesn’t mean the money that’s in your partner’s ISA, but the allowance that will be registered in your name.
- The allowance amount will be the same as the amount of money that was in all of your partner’s ISAs. For example, if they had £25,000 in their ISAs, your new allowance will be an extra £25,000.
- You can only put your own money into the account.
- The allowance is available for three years after your partner has passed away, or 180 days after the administration of the estate has been completed (whichever is the later date).
- Any money you save will count towards your inherited ISA allowance. You can’t replace any money you take out. You can only use up your remaining allowance.
- You can only register your inherited ISA allowance with one provider.
This doesn’t affect your personal annual ISA allowance. You’ll still have it on top of your inherited ISA allowance.