Can I use my additional ISA allowance with AJ Bell Youinvest?
From 6 April 2015, spouses and civil partners of ISA holders who died after 3 December 2014 are able to inherit an additional ISA allowance. The value of the inherited ISA allowance is equivalent to the higher of the value of the ISA on the date of death or the value of the ISA on the date it stops being a 'continuing ISA'. It will keep this status until the earliest of:
- The completion of the administration of the estate
- The 3rd anniversary of the date of death
- The closure of the ISA due to all the funds being withdrawn
The inherited ISA allowance is in addition to the normal annual ISA allowance that investors can continue to use.
Providing that you have an AJ Bell Youinvest Stocks and shares ISA and your spouse’s Stocks and shares ISA was held with AJ Bell Youinvest you are able to use your additional ISA allowance with us. We do not currently accept transferred additional allowances from other ISA Managers.
You must have been married and living together at the date of death i.e. not separated under a court order, under a deed of separation or in circumstances where the marriage or civil partnership has broken down.
There are time limits for using your additional permitted subscription allowance. If you wish to subscribe using the investments you have inherited from your spouse’s Stocks and shares ISA, you must do so within 180 days of the investments passing to you. Cash subscriptions typically must be made within three years of the date of death.
- Do you offer a Flexible ISA?
- How many ISAs can I have?
- If I transfer in a Stocks and shares ISA will it count towards my annual ISA allowance?
- Are there any conditions I have to meet to open a Stocks and shares ISA?
- Do you offer a cash ISA?
- Can I open an ISA with an initial lump sum and top up at a later date?