HMRC may give notice withdrawing approval of a person as an account manager if they have reason to believe that any provision of the regulations has not been satisfied in respect of an account managed by them or that they are not qualified to act as an account manager1. From the date on which notification has been received, the account manager must not accept any further ISA subscriptions from investors or open any new accounts2.
An account manager who receives such a notice must (subject to any appeal, see below), notify the account investor of the investor's right to transfer the account (see E3.325) and of the fact that, if the investor does so within 30 days, the account will be treated as managed
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Web page updated on 17 Mar 2025 13:15