Mortgage & Help » ISA's » Inheritance ISA

What is APS?
An additional permitted subscription (APS) is an additional allowance that can be used by the spouse or civil partner of a deceased ISA customer in addition to their normal annual ISA limit. The value of this allowance is determined by the value of the deceased’s ISA at the date of death. Only eligible to the spouse or civil partner of the deceased, the APS cannot be transferred to another person. There will be no change in the administration of the deceased's estate after death. Any ISAs held by the deceased at the date of their death will still be closed and any interest paid after the date of death will be paid after tax has been deducted. APS does not entitle you to the funds held by the deceased in their ISA at date of death and no actual funds will be transferred.

Are you eligible?
You must be a London, UK resident aged 16 or over and you must be a spouse or civil partner of Individual Savings Accounts (ISA) savers who died on or after 3 December 2014.

You must have been living with the deceased at the time of their death, not separated under an order of a court or a deed of separation or not separated in circumstances where the separation was likely to become permanent. Please be aware that those living apart, at the date of death, in a care home are not considered to be separated under this rule. This account will enable the spouse or civil partner of a deceased ISA saver to benefit from an additional ISA allowance. Individuals will be permitted to save an additional amount in an ISA, up to the value of their deceased spouse or civil partner’s ISA savings at the time of death, without this amount counting against their normal ISA subscription limit. 

You can open the account in your local Archiris branch