- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
There are currently no known outstanding effects for the The Individual Savings Account Regulations 1998, Section 10A.
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10A.—(1) This regulation specifies the description of individual (“Lifetime ISA qualifying individual”) who may invest under a Lifetime ISA.
(2) A Lifetime ISA qualifying individual to whom paragraph (1) refers is an individual who—
(a)is 18 years of age or over;
(b)in relation to a current year payment is under 50 years of age;
(c)in relation to a current year payment or a payment under paragraph (4)(c), has not made, and will not make, any such payment to any other Lifetime ISA in the year in which the payment is made;
(d)has not exceeded the overall subscription limit in regulation 4ZA(1) in that year;
(e)has not exceeded the overall Lifetime ISA payment limit in regulation 4ZA(1A) in that year; and
(f)in relation to a current year payment or a payment under paragraph (4)(c), is resident in the United Kingdom or, if not so resident—
(i)is a person who has general earnings from overseas Crown employment subject to United Kingdom tax within the meaning given by section 28 of ITEPA 2003, or
(ii)is married to or in a civil partnership with a person mentioned in paragraph (i).
(3) Subject to paragraph (4), the following are current year payments—
(a)a subscription of money;
(b)a subscription of shares to which regulation 7(2)(h) applies;
(c)a subscription to which regulation 5D applies;
(d)an additional permitted subscription in accordance with regulation 5DDA;
(e)a replacement subscription in accordance with regulation 5DDB;
(f)an additional permitted subscription on closure of a Help to Buy ISA in accordance with regulation 5DDC; and
(g)a transfer of qualifying investments for a Lifetime ISA component from an account which is not a Lifetime ISA.
(4) The following are not current year payments—
(a)a defaulted Lifetime ISA subscription under regulation 5D(2)(a)(ia);
(b)a returned withdrawal under regulation 5D(2)(a)(ib); F2...
F3(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F1Reg. 10A inserted (6.4.2017) by The Individual Savings Account (Amendment No. 2) Regulations 2017 (S.I. 2017/466), regs. 1, 21
F2Word in reg. 10A(4) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 18(a)
F3Reg. 10A(4)(c) omitted (6.4.2024) by virtue of The Individual Savings Account (Amendment) Regulations 2024 (S.I. 2024/350), regs. 1, 18(b)
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