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Statutory Instruments
Income Tax
Capital Gains Tax
Made
10th March 2020
Laid before House of Commons
12th March 2020
Coming into force
6th April 2020
1. These Regulations may be cited as the Individual Savings Account (Amendment No. 2) Regulations 2020 and come into force on 6th April 2020.
2. The Individual Savings Account Regulations 1998(3) are amended as follows.
3. In regulation 4ZB(1) (subscriptions to a junior ISA account) for “£4,368” substitute “£9,000”.
Iain Stewart
David Rutley
Two of the Lord Commissioners of Her Majesty’s Treasury
10th March 2020
(This note is not part of the Regulations)
These Regulations amend the Individual Savings Account Regulations 1998 (S.I. 1998/1870). They provide for the annual limit on subscriptions to a junior ISA account to be increased from £4,368 to £9,000 (regulation 3).
A Tax Information and Impact Note will be published on the HM Government website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.
1992 c. 12. Section 151(2) was amended by paragraph 436 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c. 5), section 40(6) of the Finance Act 2011 (c. 11) and section 27(2) of the Finance Act 2016 (c. 24).
2005 c. 5. Section 694 was amended by section 401 of the Finance Act 2011 (c. 11).
S.I. 1998/1870. Regulation 4ZB(1) was last amended by S.I. 2019/382.
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