ISA Reactivation - Strange Clause

[Dave256]

Hi,

First time posting on here.

I have logged in to my account and have received a pop-up message prompting me to reactivate my ISA.

One of the clauses I have to agree to is:

"I have not subscribed and will not subscribe to another Stocks & Shares ISA in the same tax year that I subscribe to this Stocks & Shares ISA"

I thought that this had changed in the last budget, which came into effect 6th April 2024, noted as "removes the restriction on subscribing to only one ISA of each type per year"  in section 1.2 here: https://www.gov.uk/government/publications/tax-free-savings-newsletter-11/tax-free-savings-newsletter-11

Can you please confirm if this is correct? Does the wording on your declaration need to be amended before I can click Agree?

Regards,
Dave.

[KoketsoIG]

10 hours ago, Dave256 said:

Hi,

First time posting on here.

I have logged in to my account and have received a pop-up message prompting me to reactivate my ISA.

One of the clauses I have to agree to is:

"I have not subscribed and will not subscribe to another Stocks & Shares ISA in the same tax year that I subscribe to this Stocks & Shares ISA"

I thought that this had changed in the last budget, which came into effect 6th April 2024, noted as "removes the restriction on subscribing to only one ISA of each type per year"  in section 1.2 here: https://www.gov.uk/government/publications/tax-free-savings-newsletter-11/tax-free-savings-newsletter-11

Can you please confirm if this is correct? Does the wording on your declaration need to be amended before I can click Agree?

Regards,
Dave.

Dear @Dave256,

Thank you for your post.

Please note that the clause warrants a change because as it stands it's at variance with the new rule which does not require clients to reactivate their accounts if they had not funded them in the previous tax year. The investment specialists are currently in discussion with the product development team to have this updated and removed from the pop-up because it creates confusion. We will keep you updated.

Thanks,

KoketsoIG