When do I need to fill out an ISA renewal form?

If you don’t use any of your ISA allowance with Nationwide for an entire tax year, the next time you try to add funds to your Nationwide ISA, you will need to complete an ISA renewal form.

Where can I find the ISA renewal form?

ISA allowances explained

 

Each tax year the Government limits how much you can save tax-free in an ISA. This is called your allowance, and the limit for 2018/19 is £20,000. Since 2016, cash ISAs can be ‘flexible’. This means you can take out and replace funds throughout a tax year without this affecting your ISA allowance.

Because cash ISAs can be flexible, you could end up in a situation where money has gone out and in of your ISA – but you haven’t actually used any of your allowance by the end of the tax year.

When this happens, the next time you try to add funds, you’ll need to fill out an ISA renewal form.

Here’s an example to explain this

  • You open a cash ISA at the start of a tax year and make a deposit in your account, using up some of your tax-free savings allowance for that year
  • At the start of the following tax year, your tax-free savings allowance re-sets
  • You then take out £100 from your ISA. Later in the same tax year, you pay £100 back in
  • You’ve been active in your account, but – as what you’ve taken out and paid in just takes you back to your start-of-tax-year balance – you haven’t used any of your tax-free savings allowance for that year
  • If the tax year ends and you haven’t paid in any more money, the next time you try to pay in, you’ll need to fill in an ISA renewal form to reactivate your account.

Top tip

The example shows what happens when you’ve put back money you’ve taken out in a tax year but you haven’t used your ISA allowance.

If you’d done this but paid in just 1p more than you’d taken out, you’d have used your allowance – avoiding the need to fill in an ISA renewal form.

What happens if I don't fill in the form?

This depends on how you try to move money to your ISA.


  • In branch at Nationwide:
    When you try to add money to your ISA, we’ll tell you that you won’t be able to do this until you complete the form, and we’ll help you complete the form.

  • From another Nationwide account using our Internet Bank:
    When you try to add money to your ISA, your transfer will be rejected and we’ll tell you that you need to complete an ISA renewal form.

  • By making an online transfer from a non-Nationwide account:
    When you try to add money to your ISA, your money will be sent back to the account it came from, and – as we’re not the account provider – we won’t be able to tell you the reason for this.

Where can I find the ISA renewal form?

  • On our Internet Bank Just select your cash ISA from your accounts overview, then choose ‘Other account services’ from the options on the left side of the page
  • By popping into your nearest Nationwide branch
  • By calling us on 0800 30 20 10

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