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Draft ‘flexible ISA’ regulations

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HMRC is holding a technical consultation for The Individual Savings Account (Amendment) Regulations, SI 2016/Draft, until 8 November 2015. The proposed regulations amend the existing ISA regulations to establish a new flexibility within ISA, from 6 April 2016, which allows savers to replace cash they have withdrawn from their account earlier in a tax year, without this replacement counting towards the annual ISA limit for that year. This flexibility will be available in relation to both current year and earlier years’ ISA savings where provided for in the terms and conditions of a ‘flexible ISA’. A tax impact note has also been published. See

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