We can help firms establish themselves as Individual Savings Accounts(ISA) managers and to establish their own ISA. In order to be an ISA manager a firm has to adhere to the ISA Regulations which are monitored by HMRC (as well as being authorised and regulated by the FSA). The requirements include a number of reporting requirements and the reclamation of tax where appropriate. Corporate ISAs and share save schemes can be developed.

HMRC has the right to audit ISA managers and we can perform mock audits to test adherence with the regulations.

For information about being an ISA Manager, please see the latest version of the “Guidance Notes for ISA Managers

These notes are updated by HMRC published ISA Bulletins; when a new bulletin is issued the link to the bulletin is posted in our ISA Bulletin category.

Further reading:

All UK residents aged 18 and over can take out a Stocks and Shares ISA and/or a Cash ISA every fiscal year. Additionally those aged 16 and 17 can take out a Cash ISA but not a Stocks and Shares ISA.

For 2011/12 the maximum subscription is £10,680 all of which can go into the Stocks and Shares ISA. Alternatively upto £5,340 can go into the Cash ISA with the maximum subcription to the Stocks and Shares ISA being reduced accordingly.

From 2011/12 onwards the maximum ISA allowance is being indexed in line with movments in the CPI. For 2012/13 the maximum subscription will be £11,280. As always up to 50% (ie £5,640) can be put into the Cash ISA.

Of course, the ISA regime could be terminated at any time. The current Coalition Government has already done away with the Child Trust Fund but it has now been replaced with the Junior ISA.