The provisions governing ISA accounts were changed with effect from 1 November 2011 to accommodate the arrival of Junior ISA accounts. Amendments from 6 April 2016 accommodated innovative finance accounts.
An ISA account is a scheme of investment to which a subscription may be made1. The subscription must be made by a qualifying individual unless the account is a Junior ISA account2. The account is subject to various conditions which must be fulfilled3.
The account is set up as a cash account, a stocks and shares account, an innovative finance account or a Lifetime ISA account4. A stocks and shares account is made up of a single stocks and shares component, a cash account is made up of a single cash component, an innovative finance account is made up of a single innovative finance component and a Lifetime ISA account is made of a single Lifetime ISA component5.
From 6 April 2024 a qualifying individual (see E3.305) aged 18 or over may make multiple subscriptions to the
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Web page updated on 17 Mar 2025 13:13