The inherited ISA allowance

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Important information about applying for an Inheritance ISA

We’re asking everyone not to visit us in branch unless it’s absolutely necessary.

That means you can only apply for an Inheritance ISA by post, if you’re already a Nationwide member.

Just order an application pack to get started.

Otherwise, some of our other savings accounts can be opened online. See all our savings accounts.

What’s an inherited ISA allowance?

  • If your spouse or civil partner has passed away and they had an ISA, you will probably be eligible to receive an inherited ISA allowance. You’ll need to have been married to, or in a civil partnership, with your partner when they passed away. And you’ll need to have been living together and not legally separated or about to become legally separated.
  • An inherited ISA allowance is in addition to the annual ISA allowance you already receive, and it could mean you pay less tax on your savings.
  • The inherited ISA allowance doesn’t mean the money that’s in your partner’s ISA. It is based on the value of the ISA(s) they held.
  • Your partner may have had ISAs with several managers. If this was the case, you can choose to register separate inherited ISA allowances with each ISA manager, or you can choose to transfer your total inherited ISA allowance (i.e. the value of all your partner’s ISAs) to a single manager.
  • Our Inheritance ISA is an account especially for managing and using your inherited ISA allowance.

How much will my inherited ISA allowance be?

Any cash ISAs, stocks and shares ISAs, innovative finance ISAs and lifetime ISAs your partner held will count towards your inherited ISA allowance. The only one that doesn’t count is a junior ISA.


  • If your partner died on or before April 5 2018
    Your inherited ISA allowance will be the value of your partner’s ISA(s) at the date of death.

  • If your partner died on or after April 6 2018
    At the time of applying, you can either:

    1. inherit an ISA allowance that is the value of your partner’s ISA(s) at the date of death

    OR

    2. if your partner’s ISA(s) remains open and continues to earn interest, you can inherit an ISA allowance that is the value of your partner’s ISA(s) at account closure. Your partner’s ISA(s) can remain open up to three years after the date of death.

    You will be able to use the higher of the two values as your inherited ISA allowance unless, under option 2, you start using this allowance before your partner’s ISA(s) is closed. When this happens, you will inherit an ISA allowance that is the value of your partner’s ISA(s) at date of death (the same as option 1).

How long will my inherited ISA allowance be available?

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.

What else do I need to know?

  • Any money you save in your Inheritance ISA will count towards your inherited ISA allowance.
  • You can’t replace any money you take out of your Inheritance ISA - you can only use up your remaining inherited ISA allowance.
  • Any money withdrawn from an Inheritance ISA can be placed into any non-Inheritance ISA you hold without affecting your annual ISA allowance.
  • You can register an inherited ISA allowance:

    - with multiple managers
    (in separate accounts with separate inherited ISA allowances)

    - with a single manager
    (in one account where all of your inherited ISA allowances are combined)

Setting up an Inheritance ISA: Our four-step guide

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Protecting your money

More about the Financial Services Compensation Scheme
Setting up an Inheritance ISA
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