What if my deceased spouse or civil partner had an ISA?
From 6 April 2015, you can inherit ISA benefits that your spouse or civil partner had built up in any ISAs they had, if they passed away on or after 3 December 2014.
This isn’t the same as inheriting the actual money in the ISA – this will go to whoever is nominated in their will. But you can inherit the option of adding an amount, through additional ISA subscriptions, up to the total that they held in their ISA account, to your own ISA.
So, if your spouse had an ISA with a total balance of £50,000, you’ll be allowed to add up to this amount to your ISA, plus your own 2017-18 annual allowance of £20,000.
The new subscription amount that you’ve been able to inherit – so, here, the £50,000 – is known as your ‘Additional Permitted Subscription allowance’ or ‘APS allowance’. In the case of cash ISAs, you have three years to use this allowance, but an additional time period applies if completion of the estate takes longer.
How can I access this benefit?
You can’t take advantage of this benefit automatically. You’ll need to complete one of the forms below and post it to the address given so that a new ISA can be opened for you.
To open a new ISA with us using an inherited APS allowance, please read ISA terms and conditions, interest rates and other important information and complete the Cash ISA Application Form – Using Additional Permitted Subscription (APS) Allowance PDF form. Please note that once you've subscribed, all future subscriptions under the APS allowance must be made to the same ISA manager.
To transfer an APS allowance to a new Barclays ISA from one held elsewhere, please complete the Additional Permitted Subscriptions (APS) Allowance Transfer Request PDF form. The Additional Permitted Subscription (APS) allowance can only be transferred once, and only where no subscriptions have been made under that APS allowance.
To make further deposits up to the maximum of your APS allowance, please complete the Further Additional Permitted Subscriptions (APS)(made by a surviving spouse or civil partner) PDF form.
If you don’t bank with us, take the form to a branch and we’ll help arrange this for you.
You’ll also need to bring these documents with you:
- Proof of your ID, for example, full passport or identity card
- Proof of your addresses for the past three years, for example, a recent utility bill
And the following details of the deceased:
- Their full name
- Their address
- Their National Insurance number, if known, or confirmation that they didn’t have a permanent one
- Their date of birth and date of death
Learn more about obtaining additional ISA allowances following the death of your spouse or civil partner. If you’d like further help or information, please call us on 0345 744 5445*^ or come and see us in branch.
How can I check the amount of this benefit?
If you want to know more about your Additional Permitted Subscription (APS) Allowance, you can contact us using this form and we’ll write back to you confirming your Allowance.
Barclays direct investing
Here’s how to use your APS allowance on Barclays direct investing:
- You can use your APS allowance with an existing Barclays Investment ISA. If you don’t have one, you need to open a Barclays Investment ISA. You can then pay in money to this Investment ISA to use your APS allowance
- If you want to transfer the investments in your spouse’s ISA still invested, you need to have a Barclays Investment ISA. If you don’t already have one, you need to open an Investment ISA
- Apply for the APS to be calculated by filling out the ‘Request for an APS allowance valuation’ form
- Complete the ‘Application for an APS allowance’ to set up your APS.
If you need help or you have questions please call us on or our local number