The Individual Savings Account (Amendment) Regulations 2016 No. 16

Amendment of regulation 21 (transfers relating to accounts other than junior ISA accounts)

14.  In regulation 21, at the end of paragraph (6)(b)(iii), insert−

“,disregarding a subscription made in accordance with regulation 5D (except for a replacement subscription), less, in the case of a flexible account, the amount of any cash withdrawn from it during that period and if the result is in the negative, the amount to be reported is nil”.