http://www.legislation.gov.uk/uksi/2004/2996/regulation/1/made

The Individual Savings Account (Amendment No. 2) Regulations 2004

Income tax

Life insurance

Tax

Insurance

Income

King's Printer of Acts of Parliament

2016-06-16

INCOME TAX

These Regulations amend the Individual Savings Account Regulations 1998 (S.I. 1998/1870: “the main Regulations”). They will come into effect on 6th April 2005. The principal effects of these Regulations are (a) to allow the new stakeholder cash deposit account and stakeholder medium-term products to be held within Individual Savings Accounts (“ISAs”) from 6th April 2005, (b) to apply a “cash-like test” to stakeholder medium-term products, and policies of life insurance issued on or after 6th April 2004, to determine whether, on and from 6th April 2005, they are to be held in a stocks and shares component or cash component of an ISA, and (c) to provide for the removal of insurance components of ISAs on 6th April 2005.