The Individual Savings Account (Amendment) Regulations 2019

Made: 26th February 2019

Laid before the House of Commons: 28th February 2019

Coming into force: 6th April 2019

The Treasury, in exercise of the powers conferred by section 151(1) and (2) of the Taxation of Chargeable Gains Act 1992[^f00001] and section 694(1) and (3) of the Income Tax (Trading and Other Income) Act 2005[^f00002], makes the following Regulations.

Citation and commencement

1

These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2019 and come into force on 6th April 2019.

Amendment of the Individual Savings Account Regulations 1998

2

The Individual Savings Account Regulations 1998[^f00003] are amended as follows.

3

In regulation 4ZB(1) (subscriptions to a junior ISA account) for “£4,260” substitute “£4,368”.

Signed

Mike Freer — Craig Whittaker — Two of the Lord Commissioners of Her Majesty’s Treasury — 26th February 2019

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations amend the Individual Savings Account Regulation 1998 (S.I. 1998/1870). They provide for the annual limit on subscriptions to a junior ISA account to be increased from £4,260 to £4,368 (regulation 3).

A Tax Information and Impact Note will be published on the HM Government website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

Footnotes

[^f00001]: 1992 c. 12. Section 151(2) was amended by paragraph 436 of Schedule 1 to the Income Tax (Trading and other Income) Act 2005 (c. 5), section 40(6) of the Finance Act 2011 (c. 11) and section 27(2) of the Finance Act 2016 (c. 24).

[^f00002]: 2005 c. 5.

[^f00003]: S.I. 1998/1870. Regulation 4ZB(1) was last amended by S.I. 2018/359.