Scammers are using impersonation, fake investment opportunities (including cryptocurrency), and AI-generated calls.
Skipton will never ask you to:
If you are unsure, do not proceed and contact us directly.
Whichever of the following is higher:
A ‘continuing ISA’ means the ISA in question remains open and earning interest, tax free. This stays in place until whichever of these occurs soonest:
| ISA fund | ISA allowance - set by HMRC |
|---|---|
| The money held in your ISA | The maximum you put into ISAs each tax year |
| Example: if you have £10,000 invested, you have £10,000 in ISA funds | Example: £20,000 is the current yearly allowance |
The APS allowance is available for three years after the date your spouse or civil partner died, or for up to 180 days after the administration of the estate is complete, whichever is later.
If you're interested in using your APS with us, we offer a Legacy Cash ISA which was designed specifically with APS in mind.
If you’d like to use your APS allowance with a Stocks and Shares ISA, your Skipton Financial Adviser can take you through your options. There’s no charge to hear their advice, however a fee will apply if you decide to act on their recommendations. You’ll need to have a lump sum of at least £20,000 or £500 a month, available to invest.
Stock market-based investments are not like building society savings accounts as your capital is at risk and you may get back less than you invested. The value of your investments and any income from them may fall as well as rise.
Investing usually gives you better returns than a savings account over time (five years or more). But the value of your investments can go up and down, so you could get back less than you put in.
Any tax you pay on your investments depends on your own situation – and rules could change.
If your partner held several ISAs with different ISA providers, you are entitled to a separate APS allowance with each of the ISA providers. Alternatively, you can transfer multiple APS allowances to one ISA provider who will combine them into one single APS allowance. You can transfer an APS only once.
No. Your annual ISA allowance for this tax year is £20,000 and your APS allowance sits alongside this. We offer a specific Legacy Cash ISA for the sole purpose of using your APS allowance. You can still save up to your annual ISA allowance in any of our other Cash ISAs.
No. You can make unlimited payments up to the APS allowance using either inherited money or funds from elsewhere. You can use your APS allowance for up to three years from the date of your spouse or civil partner's death, or if later than three years, 180 days after the completion of the administration of the estate.
Payments to a Skipton Legacy Cash ISA must be made by cheque, electronic transfer, or internal transfer from a Skipton Building Society account. If you opt for electronic payment, please call us on 0345 850 1722 to let us know.
Depending on the circumstances, your APS allowance may be based on:
We will tell you which value applies to your circumstances. If you make APS subscriptions before an APS2 value becomes available, you will no longer be eligible to use an AP2 valuation.
Closing the account may affect how your APS allowance is calculated. If you're unsure, please contact us before proceeding.
Once you have used or transferred an APS allowance to a provider, the APS allowance itself cannot be transferred elsewhere. However, after the money has been invested into your ISA, you may be able to transfer the ISA to another provider in the usual way.
You'll still be entitled to an APS allowance because it’s calculated on the amount your spouse or civil partner has built up in tax-free entitlements, regardless of whether or not you’ve inherited their savings (ISA funds). You don't have to use money from their ISA as your APS allowance; it can come from elsewhere.
Yes - you’re still entitled to an APS allowance if your husband, wife or civil partner has died. But you can’t open a Skipton Cash ISA if you’re a non-UK resident.
You can use your APS allowance in a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA or, if you meet the eligibility requirements, a Lifetime ISA. You can also split your APS allowance across different types of ISA.
You do no have to invest your APS allowance in the same type of ISA that your spouse or civil partner held.
If you wish to use your APS allowance in the same type of ISA that your spouse or civil partner held.
If you wish to use your APS allowance in a Lifetime ISA, additional eligibility requirements apply and any APS subscriptions made into a Lifetime ISA count towards the annual Lifetime ISA payment limit.
If you have already contributed to a Lifetime ISA during the current tax year, please contact us before applying so we can explain the options available to you.