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Statutory Instruments

2012 No. 705

Income Tax

Capital Gains Tax

The Individual Savings Account (Amendment) Regulations 2012

Made

6th March 2012

Laid before the House of Commons

7th March 2012

Coming into force

6th April 2012

The Treasury, in exercise of the powers conferred by section 694 of the Income Tax (Trading and Other Income) Act 2005( 1 ) and section 151 of the Taxation of Chargeable Gains Act 1992( 2 ) make the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Individual Savings Account (Amendment) Regulations 2012 and shall come into force on 6th April 2012.

Amendments to the Individual Savings Account Regulations 1998

2.Regulation 4ZA of the Individual Savings Account Regulations 1998( 3 ) (subscriptions to an account other than a junior ISA account) is amended as follows—

(a) in paragraph (1)(a), for “£5,340” substitute “£5,640”; and

(b) in paragraph (1)(b), for “£10,680” substitute “£11,280”.

James Duddridge

Jeremy Wright

Two of the Lords Treasury Commissioners of Her Majesty’s Treasury

6th March 2012

( 1 )

2005 c. 5 . Section 694 was amended by section 40 of the Finance Act 2011 (c.11) .

( 2 )

1992 c. 12 . Section 151 was amended by section 40 of the Finance Act 2011 (c.11) .

( 3 )

S.I. 1998/1870 . Regulation 4ZA was inserted by the Individual Savings Account (Amendment No 2) Regulations 2011 (S.I 2011/1780) ; there are other amendments but none are relevant.

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Individual Savings Account (Amendment) Regulations 2012 (2012/705)

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